Boron One Announces Successful Closing of Early Warrant Exercise Incentive Program

Rhea-AI Summary

Boron One Holdings (TSXV:BONE) has successfully concluded its warrant exercise incentive program, resulting in the exercise of 7,266,000 Eligible Warrants generating proceeds of $435,960.00 for general working capital. The program encouraged the exercise of up to 11,576,000 unlisted warrants from previous private placements.

Participating holders received 7,266,000 additional Incentive Warrants, each allowing the purchase of one Common Share at $0.06 for 2 years, with acceleration rights if shares trade at or above $0.10 for 10 days. Unexercised Eligible Warrants retain their original terms, expiring March 27, 2025 (Tranche 1) and May 7, 2025 (Tranche 2). Insiders participated in 8.26% of the total Eligible Warrants exercised.

Positive

• Raised $435,960 in new capital through warrant exercises
• 8.26% insider participation in warrant exercise program, showing management confidence

Negative

• Dilution of existing shareholders through issuance of additional 7,266,000 Incentive Warrants
• Further potential dilution from remaining unexercised warrants

VICTORIA, BC / ACCESS Newswire / January 17, 2025 / Boron One Holdings Inc. ("Boron One" or the "Company") (TSXV:BONE) is pleased to announce the closing of its previously announces (November 22, 2024, December 9, 2024 and December 20, 2024) warrant exercise incentive program (the "Program"). The Program was designed to encourage the exercise of up to 11,576,000 unlisted common share purchase warrants of the Company (the "Eligible Warrants") which were issued in connection with its private placement of units ("Units") that closed on September 27, 2023 ("Tranche 1") and November 7, 2023 ("Tranche 2"). Each Unit was comprised of one (1) common share of the Company ("Common Share") and one (1) Eligible Warrant, entitling the holder thereof to acquire one (1) Common Share (each, a "Warrant Share") at a price of $0.07 for the first six months and $0.12 for the remaining 12 months, being March 27, 2025 for Tranche 1 Eligible Warrants and May 7, 2025 for Tranche 2 Eligible Warrants, respectively.

Pursuant to the Program, holders exercised 7,266,000 Eligible Warrants for proceeds of $435,960.00 which will be used for general working capital. Participating holders were also issued 7,266,000 additional warrants (an "Incentive Warrant"). Each Incentive Warrant entitles the holder thereof to purchase one (1) Common Share for a period of 2 years at a price of $0.06 per Common Share, subject to the right of the Company to accelerate expiry upon 30 days' notice if the Common Shares trade on the TSX Venture Exchange ("TSXV") at or above $0.10 for a period of 10 days.

Eligible Warrants that remain unexercised following the completion of the Early Exercise Period will continue to be exercisable for Common Shares on the original terms as they existed prior to the Program, with the Tranche 1 Eligible Warrants expiring on March 27, 2025, and the Tranche 2 Eligible Warrants expiring on May 7, 2025, both at 5:00 p.m. (Vancouver time).

The Incentive Warrants and any Common Shares issuable on the exercise thereof will be subject to a four-month and a-day 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 Multilateral Instrument 61-101 in sections 5.5(a) and 5.7(a) thereof and with respect of such insider participation.

The Program is subject to approval from the TSXV and is subject to receipt of all final regulatory approvals, including final approval of the TSXV. The number of Eligible Warrants exercised by insiders of the Company was 8.26% of the total Eligible Warrants.

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 TSXV 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

On behalf of the Board of Directors,
Tim Daniels, President

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 OTCBB: 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 ACCESS Newswire

FAQ

How much capital did Boron One raise through its warrant exercise program?

Boron One raised $435,960.00 through the exercise of 7,266,000 Eligible Warrants.

What are the terms of the new Incentive Warrants issued by Boron One?

The Incentive Warrants allow holders to purchase Common Shares at $0.06 for 2 years, with acceleration rights if shares trade at or above $0.10 for 10 days.

When do the remaining unexercised Eligible Warrants expire?

Tranche 1 Eligible Warrants expire on March 27, 2025, and Tranche 2 Eligible Warrants expire on May 7, 2025.

What percentage of the warrant exercise program involved insider participation?

Insiders participated in 8.26% of the total Eligible Warrants exercised in the program.