Boron One Announces Successful Closing of Early Warrant Exercise Incentive Program

Rhea-AI Summary

Boron One Holdings (TSXV:BONE) has successfully completed its warrant exercise incentive program, initially announced on April 7, 2025. The program encouraged the exercise of up to 9,691,000 unlisted common share purchase warrants by reducing the exercise price from $0.07 to $0.05 per warrant share. As a result, holders exercised 4,115,000 Eligible Warrants, generating proceeds of $205,750 for general working capital. Participating holders received an equal number of Incentive Warrants, exercisable until May 27, 2028, with a tiered pricing structure: $0.05 for the first year and $0.07 for the second and third years. Notably, 42.46% of the total Eligible Warrants were exercised by company insiders. The program remains subject to final TSX Venture Exchange approval.

Positive

• Generated $205,750 in additional working capital through warrant exercises
• 42.46% insider participation demonstrates management confidence
• Successfully incentivized exercise of 4,115,000 warrants through price reduction

Negative

• Warrant exercise price reduction from $0.07 to $0.05 represents potential dilution at a lower price
• Additional dilution potential from new Incentive Warrants issued
• More than half of the eligible warrants remained unexercised despite the incentive program

VICTORIA, BC / ACCESS Newswire / May 26, 2025 / Boron One Holdings Inc. ("Boron One" or the "Company") (TSXV:BONE), is pleased to announce the closing of its previously announced (April 7, 2025) warrant exercise incentive program (the "Program"). The Program was designed to encourage the exercise of up to 9,691,000 unlisted common share purchase warrants of the Company (the "Eligible Warrants") which were issued as part of the Company's private placements which closed June 7, 2024, September 10, 2024 and September 25, 2024, respectively (the "Warrants"). The Warrants had an exercise price of $0.07. The board of directors of the Company determined it to be in the best interests of the Corporation to reprice Warrants from the current exercise price of $0.07 per share of common stock to C$0.05 per Warrant Share for the term of the Program.

Eligible Warrants that remain unexercised continue to be exercisable for Common Shares on the original terms as they existed prior to the Program.

Pursuant to the Program, the holders exercised 4,115,000 Eligible Warrants for proceeds of $205,750 which will be used for general working capital. Participating holders were issued 4,115,000 additional common share purchase warrants (an "Incentive Warrant"). Each Incentive Warrant entitles the holder to purchase one additional Common Share until 5:00 pm (Vancouver time) May 27, 2028. Each Incentive Warrant is exercisable at $0.05 for the first year, and $0.07 for the second and third year, subject to the right of the Corporation to accelerate expiry upon 30 days' notice if the shares of the Corporation trade on the TSX Venture Exchange at or above $0.10 for a period of 10 days.

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

The Program is subject to approval from the TSX Venture Exchange (the "Exchange") and is subject to the receipt of all final regulatory approvals, including final approval of the Exchange. The number of Eligible Warrants exercised by insiders of the Company was 42.46 % of the total Eligible Warrants.

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

About Boron One Holdings Inc.
Boron One Holdings Inc. is a leading company dedicated to advancing the decarbonization of our planet through the responsible utilization of its wholly owned boron assets in Serbia. With a commitment to environmental stewardship and sustainability, Boron One aims to play a crucial role in reducing the world's carbon footprint and supporting a cleaner, greener future for us all.

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 https://www.sedarplus.ca/.

For further information, please contact:	Boron's Public Quotations:
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 ACCESS Newswire

FAQ

What was the result of Boron One's (ERVFF) warrant exercise incentive program in May 2025?

The program resulted in the exercise of 4,115,000 warrants at $0.05 per share, raising $205,750 in working capital, with 42.46% participation from insiders.

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

Boron One raised $205,750 through the exercise of 4,115,000 warrants at a reduced price of $0.05 per share.

What are the terms of Boron One's (ERVFF) new Incentive Warrants issued in May 2025?

The Incentive Warrants are exercisable until May 27, 2028, at $0.05 for the first year and $0.07 for the second and third years, with an acceleration clause at $0.10.

What percentage of Boron One's (ERVFF) warrant program was exercised by insiders?

Company insiders exercised 42.46% of the total Eligible Warrants in the incentive program.