Boron One Announces First Closing of Financing

Rhea-AI Summary

Boron One Holdings Inc. (TSXV:BONE) has announced the first closing of its financing, accepting subscriptions for 5,171,000 units at $0.05 per unit, raising gross proceeds of $258,550. Each unit consists of one common share and one warrant exercisable at $0.07 for 30 months. The securities are subject to a four-month and one day hold period. The company plans to use the net proceeds for working capital requirements. Finder's fees of $10,000 and 130,000 broker warrants were issued. The private placement is pending TSX Venture Exchange approval. Boron One is an international mineral exploration company with boron assets in Serbia, trading on the TSX Venture Exchange under the symbol 'BONE'.

Positive

• Raised $258,550 in gross proceeds through unit offering
• Each unit includes a warrant, potentially increasing future capital if exercised
• Funds to be used for working capital, improving liquidity

Negative

• Dilution of existing shareholders due to new share issuance
• Additional dilution possible if warrants are exercised
• Finder's fees and broker warrants further impact net proceeds

VICTORIA, BC / ACCESSWIRE / September 10, 2024 / Boron One Holdings Inc. ("Boron One" or the "Company") (TSXV:BONE) is pleased to announce that the Company has accepted subscriptions for 5,171,000 units at a price of $0.05 per unit, for gross proceeds of $258,550. Each unit is comprised of one common share and one common share purchase warrant, exercisable at $0.07 for a period of 30 months.

The Common Shares and Warrants comprising the Units will be subject to a four-month and one day hold period in accordance with the policies of the TSX Venture Exchange and applicable securities legislation.

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

The Company paid finder's fees to qualified finders of $10,00 and issued 130,000 broker warrants.

The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including approval from the TSX Venture Exchange.

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
info@boronone.com	US: SEC 12G3-2(B) #82-4432ERVFF
www.boronone.com	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

How much did Boron One Holdings (TSXV:BONE) raise in its recent financing?

Boron One Holdings (TSXV:BONE) raised gross proceeds of $258,550 through the issuance of 5,171,000 units at $0.05 per unit in its recent financing.

What are the terms of the warrants issued in Boron One's (TSXV:BONE) financing?

The warrants issued in Boron One's (TSXV:BONE) financing are exercisable at $0.07 for a period of 30 months.

How does Boron One (TSXV:BONE) plan to use the proceeds from the financing?

Boron One (TSXV:BONE) intends to use the net proceeds from the financing for working capital requirements.

What finder's fees did Boron One (TSXV:BONE) pay for this financing?

Boron One (TSXV:BONE) paid finder's fees of $10,000 and issued 130,000 broker warrants for this financing.