Boron One Holdings Completes Initial Financing Phase

Boron One Holdings Inc. has announced the successful closing of its initial financing phase, raising $401,000 through the subscription of 10,025,000 units at $0.04 per unit. Each unit consists of one common share and one share purchase warrant. These warrants are exercisable for three years with varying exercise prices. The company reserves the right to expedite the expiry date if certain trading conditions are met.

The units, comprising shares and warrants, adhere to a mandatory hold period, as per TSX Venture Exchange regulations. Notably, 75,000 units involve transactions with related parties, utilizing certain exemptions due to their value relative to the company’s market capitalization.

Net proceeds are intended to support working capital needs. A finder's fee was agreed upon, involving a cash payment and the issuance of additional warrants. Completion of this private placement remains contingent on receiving mandatory approvals, including from the TSX Venture Exchange.