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BORON ONE HOLDINGS INC (ERVFF) is a leading company dedicated to the decarbonization of Planet Earth through the responsible utilization of its boron assets. The company, formerly known as Erin Ventures Inc., is focused on advancing the decarbonization agenda by leveraging its wholly owned boron assets. With a commitment to environmental stewardship and sustainability, Boron One aims to play a crucial role in reducing the carbon footprint and supporting a cleaner, greener future. The company's flagship project, the Piskanja Boron Project in Serbia, has demonstrated significant potential with Measured, Indicated, and Inferred Mineral Resources. The recent acquisition of a mineral exploration license covering 21 square kilometers in the Jarandol Basin further underscores Boron One's commitment to expanding its footprint in the boron sector.
Boron One Holdings Inc. (TSXV:BONE) has announced an amendment to its Letter of Intent with Osmose Ltd. regarding the company's Piskanja Boron Project. The amended terms reflect improved fundamentals since the original LOI was negotiated. The project-level funding remains at Euro22,000,000 in two tranches for a 45% interest. Key amendments include:
- Osmose will purchase 35,500,000 units at CAD$4,260,000 (CAD$0.12 per unit).
- Each unit includes one common share and one share purchase warrant, exercisable at CAD$0.24 for two years.
- Conditions apply if the purchase is not completed by April 30, 2023, altering unit pricing based on market conditions.
The Piskanja Project has a measured mineral resource of 1.39 million tonnes, with notable average B2O3 grades. Completion is subject to various conditions, including exchange acceptance.
Boron One Holdings Inc. has submitted a comprehensive Geological Elaborate regarding its Piskanja Boron Project to the Serbian Mining Ministry. This submission is the first step towards obtaining a mineral exploitation license, requiring approval from an independent commission. The Elaborate, which spans 3,500 pages, builds on previous exploration data and is integral to the licensing process. The Piskanja Project holds a total of 7.2 million tonnes of boron resources, with various classifications of mineral resources detailed. The company is actively engaging with potential partners as it advances in its feasibility study.
Erin Ventures Inc. (TSXV:EV) has announced the appointment of Frontier Flex Marketing as its marketing consultant to enhance market awareness through various communication channels over a six-month period for $48,000 plus expenses. Additionally, the company has engaged HumbleandFredRadio.com for a twelve-month term at $60,000 to host online interviews and promote awareness of the boron market and Erin's role. Humble & Fred's podcast is one of Canada's most downloaded, targeting an affluent audience aged 25 to 54.
Erin Ventures Inc. has entered into a Letter of Intent (LOI) with Osmose Limited for equity funding totaling CAD$3,550,000 and Euro22,000,000 for its Piskanja Boron Project. The funding is to be released in three tranches, contingent upon Osmose meeting specific terms. The initial tranche includes a non-brokered private placement priced at CAD$0.10 per unit, which will support project feasibility studies and working capital. Osmose can gain ownership interests in Erin's Serbian subsidiary, Balkan Gold, through subsequent funding rounds. This partnership aims to enhance project development with Osmose's European business expertise.
Erin Ventures Inc. (TSXV:EV) announced the completion of a non-brokered private placement offering on January 24, 2023, raising $531,300 through the issuance of 10,626,000 units at $0.05 each. Each unit includes one common share and one warrant, with a two-year exercise period at the same price. Proceeds will fund the development of the Piskanja boron project in Serbia and cover general working capital. The offering is subject to TSX Venture Exchange approval and includes fees of $17,985 for finders.
Erin Ventures Inc. (TSXV:EV) has initiated a Feasibility Study for its wholly owned Piskanja Boron Project in Serbia. This study is essential for mineral exploitation licensing and will adhere to Serbian mining regulations. It aims to outline the project’s development scenario, including underground mining and environmental safety considerations. The process, conducted by a reputable engineering firm, is expected to take approximately six months. The project boasts a measured mineral resource of 1.39 million tonnes with significant B2O3 content, suggesting a robust potential for future mining operations.
Erin Ventures Inc. plans a non-brokered private placement offering of up to 9,000,000 units at $0.05 per unit, aiming for gross proceeds of $450,000.
Each unit consists of one common share and one two-year warrant, also priced at $0.05. There is an acceleration clause if shares trade at $0.10 for ten consecutive days.
The proceeds will finance the Piskanja boron project in Serbia and support working capital. This offering requires approval from the TSX Venture Exchange.
Erin Ventures Inc. has announced the cancellation of its joint venture and option agreement with Temas Resources Corp., eliminating Temas' potential equity participation in Erin's Piskanja Boron Project. Erin reports ongoing discussions with other strategic partners and is on schedule to acquire an exploitation permit for the project. President Tim Daniels indicated a rising interest in Piskanja, driven by robust preliminary economic assessments and increasing boron demand in the green energy sector. Piskanja remains fully owned by Erin, with significant mineral resources reported.
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