Boron One Announces Closing of Financing

Rhea-AI Summary

Boron One Holdings Inc. (TSXV:BONE) has announced the closing of its non-brokered Unit Private placement financing. The company raised $258,500 in the first tranche through the sale of 5,171,000 Units, and $94,000 in the second tranche by issuing 1,880,000 Units at $0.05 per unit. Each unit comprises one common share and one warrant, with each warrant allowing the purchase of an additional common share at $0.07 for 30 months from closing.

The company paid $1,500 in finder's fees and issued 30,000 broker warrants for the second tranche. The net proceeds will be used for working capital requirements. Securities issued are subject to a statutory hold period until January 26, 2025. Boron One, headquartered in Victoria, B.C., is an international mineral exploration company with boron assets in Serbia, trading on the TSX Venture Exchange under the symbol 'BONE'.

Positive

• Raised total gross proceeds of $352,500 through two tranches of financing
• Issued warrants with potential for additional capital at $0.07 per share
• Strengthened working capital position

Negative

• Potential dilution of existing shareholders due to new share issuance
• Relatively small amount of capital raised may not be sufficient for long-term operations

VICTORIA, BC / ACCESSWIRE / September 25, 2024 / Boron One Holdings Inc. ("Boron One" or the "Company") (TSXV:BONE) is pleased to announce that it has closed the second and final tranche of its non-brokered Unit Private placement (the "Financing"). In the first tranche the Company raised proceeds of $258,500 through the sale of 5,171,000 Units. In the second tranche the Company accepted subscriptions for 1,880,000 Units at a price of $0.05 per unit, for gross proceeds of $94,000. The Company paid finders fees on the second tranche to a qualified finder of $1,500 cash and issued 30,000 broker warrants, which are on the same same terms as the warrants forming part of the Units.

Pursuant to the terms of the Financing, each unit consists of one common share and one common share warrant. Each warrant entitles the holder to subscribe for one additional common share for $0.07 for a period of 30 months from the date of closing.

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

Securities issued on this closing are subject to a statutory hold period until January 26, 2025.

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's Public Quotations:
Boron One Holdings Inc.		Canada
Blake Fallis, General Manager		TSX Venture:BONE
Phone: 1-250- 384-1999 or 1-888-289-3746		Berlin:EKV
nfo@boronone.com		US: SEC 12G3-2(B) #82-4432ERVFF
www.boronone.com		OTCBB:ERVFF

Forward-Looking Statement Disclaimer

Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could," "intend," "expect," "believe," "will," "projected," "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the RN Property, the Acquirors and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

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

How much did Boron One Holdings (ERVFF) raise in its recent financing?

Boron One Holdings raised a total of $352,500 in its recent financing, with $258,500 from the first tranche and $94,000 from the second tranche.

What is the exercise price and duration of the warrants issued by Boron One (ERVFF)?

The warrants issued by Boron One have an exercise price of $0.07 and are valid for a period of 30 months from the date of closing.

When does the statutory hold period end for the securities issued in Boron One's (ERVFF) recent financing?

The statutory hold period for the securities issued in Boron One's recent financing ends on January 26, 2025.

What is the intended use of proceeds from Boron One's (ERVFF) recent financing?

Boron One intends to use the net proceeds from the financing for working capital requirements.