Boron One Announces Successful Closing of Early Warrant Exercise Incentive Program

Rhea-AI Summary

Boron One Holdings has successfully closed its warrant exercise incentive program, initially announced in May 2024. The program aimed to encourage the exercise of up to 10,626,000 unlisted common share purchase warrants. As a result, 5,366,000 warrants were exercised, raising $268,300 for general working capital. Participating holders received an equal number of new warrants, allowing them to purchase additional shares at $0.07 until December 2026. These new warrants are subject to a four-month hold period and can be accelerated if the company's shares trade above $0.15 for ten days. The program awaits final approval from the TSX Venture Exchange.

Positive

• Raised $268,300 in working capital through the exercise of 5,366,000 warrants.
• Issued 5,366,000 new warrants, potentially leading to future capital inflow.

Negative

• Only 50.5% of the 10,626,000 eligible warrants were exercised, leaving additional capital unraised.

VICTORIA, BC / ACCESSWIRE / June 25, 2024 / Boron One Holdings Inc. ("Boron One" or the "Company") (TSXV:BONE], is pleased to announce the closing of its previously announced (May 6, 2024 and May 28, 2024) warrant exercise incentive program (the "Program"). The Program was intended to encourage the exercise of up to 10,626,000 unlisted common share purchase warrants of the Company (the "Eligible Warrants") which were issued as part of the Company's private placement which closed on January 25, 2023. Each Eligible Warrant was exercisable for one common share of the Company (each a "Common Share") at a price of $0.05 per Common Share.

Pursuant to the Program, the holders exercised 5,366,000 Eligible Warrants for proceeds of $268,300 which will be used for general working capital. Participating holders were issued 5,366,000 additional common share purchase warrant (an "Incentive Warrant"). Each Incentive Warrant entitles the holder to purchase one additional Common Share until 5:00 pm (Vancouver time) December 19, 2026. Each Incentive Warrant is exercisable at $0.07 subject to the right of the Corporation to accelerate expiry upon 30 days' notice if the shares of the Corporation trade on the TSX Venture Exchange at or above $0.15 for a period of 10 days..

The Incentive Warrants and any Common Shares issuable on the exercise thereof are subject to a four-month hold period from the date of issuance of the Incentive Warrants pursuant to applicable Canadian securities laws.

The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(a) of MI 61-101 in respect of such insider participation.

The Program is subject to approval from the TSX Venture Exchange (the "Exchange"). The number of Eligible Warrants exercised by insiders of the Company was 1.78% of the total Eligible Warrants.

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.sedarplus.ca

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
OTC PINK: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 the original press release on accesswire.com

FAQ

What is Boron One Holdings' (ERVFF) recent warrant exercise incentive program?

Boron One Holdings recently closed a warrant exercise incentive program that raised $268,300 by exercising 5,366,000 warrants.

How much capital did Boron One Holdings (ERVFF) raise from the warrant exercise incentive program?

Boron One Holdings raised $268,300 from the exercise of 5,366,000 warrants.

What are the terms of the new warrants issued by Boron One Holdings (ERVFF)?

The new warrants allow holders to purchase shares at $0.07 until December 2026, and they include a four-month hold period.

What percentage of warrants were exercised in Boron One Holdings' (ERVFF) recent program?

Approximately 50.5% of the 10,626,000 eligible warrants were exercised.

When do the new warrants issued by Boron One Holdings (ERVFF) expire?

The new warrants expire on December 19, 2026.