Boron One Announces Closing of Second Tranche of Financing

Rhea-AI Summary

Boron One Holdings Inc. has closed the second tranche of its non-brokered Unit Private Placement, raising gross proceeds of $121,800. Each unit consists of one common share and one 18-month share purchase warrant. The company intends to use the net proceeds for general working capital.

Positive

• Boron One successfully raised $121,800 in the second tranche of its Unit Private Placement.
• Each unit in the placement includes one common share and one 18-month share purchase warrant.
• The share purchase warrants can be exercised at $0.07 in the first six months and $0.12 for the remaining 12 months.
• The company has the option to accelerate the expiry date of the warrants under certain conditions.
• The net proceeds from the offering will be used for general working capital.

Negative

• None.

VICTORIA, BC / ACCESSWIRE / November 3, 2023 / Boron One Holdings Inc. ("Boron One" or the "Company") [TSXV:BONE]") is pleased to announce that it has closed the second tranche of its non-brokered Unit Private placement (the "Financing"). In the first tranche the Company raised proceeds of $457,000 through the sale of 9,140,000 Units. In the second tranche the Company accepted subscriptions for 2,436,000 Units at a price of $0.05 per unit, for gross proceeds of $121,800. The Company paid finders fees on the second tranche to a qualified finder of $500.

Pursuant to the terms of the Financing, each unit is comprised of one common share and one 18 month share purchase warrant. Each warrant is exercisable at $0.07 in the first six months and $0.12 for the remaining 12 months. The Company has the option to accelerate the expiry date if the stock trades at $0.15 for 10 trading days during the first six months, and trades at $0.25 during the next twelve months.

The Company intends to use the net proceeds of the Offering for general working capital.

Securities issued on this closing are subject to a statutory hold period until March 7, 2024.

On behalf of the Board of Directors,

Tim Daniels, President

About Boron One Holdings Inc.

Boron One Holdings Inc. is an international mineral exploration and development company with boron assets in Serbia. Headquartered in Victoria, B.C., Canada, Boron One's shares are traded on the TSX Venture Exchange under the symbol "BONE". For detailed information please see Boron One's website at www.boronone.com or the Company's filed documents at www.sedar.com.

For further information, please contact:
Boron One Holdings Inc.
Blake Fallis, General Manager
Phone: 1-250- 384-1999 or 1-888-289-3746
info@boronone.com
www.boronone.com

Boron's Public Quotations:
Canada
TSX Venture: BONE
Berlin: EKV
US: SEC 12G3-2(B) #82-4432ERVFF
OTCBB: ERVFF

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Boron One Holdings Inc.

View source version on accesswire.com:
https://www.accesswire.com/799452/boron-one-announces-closing-of-second-tranche-of-financing

FAQ

What is the purpose of Boron One's non-brokered Unit Private Placement?

The purpose of the placement is to raise funds for general working capital.

What is included in each unit of the placement?

Each unit consists of one common share and one 18-month share purchase warrant.

What is the exercise price of the share purchase warrants?

The warrants can be exercised at $0.07 in the first six months and $0.12 for the remaining 12 months.

What are the conditions for accelerating the expiry date of the warrants?

The expiry date can be accelerated if the stock trades at $0.15 for 10 trading days during the first six months, and at $0.25 during the next twelve months.

What is the hold period for the securities issued in this closing?

The securities are subject to a statutory hold period until March 7, 2024.