Boron One Holdings Announces Initial Financing Closure

Boron One Holdings Inc., headquartered in Victoria, BC, has announced the successful acceptance of subscriptions for 10,135,000 units at $0.05 per unit, generating gross proceeds of $506,750. Each unit comprises one common share and a purchase warrant, with warrants exercisable over three years. They are set at an exercise price of $0.05 in the first year, increasing to $0.10 in the subsequent two years.

The involved shares and warrants are subject to a hold period of four months plus one day. A related party transaction includes the issuance of 240,000 units to an insider. Boron One plans to allocate net proceeds from this private placement to its working capital needs.

Finder's fees amounted to $19,250, with an additional issuance of 231,000 broker warrants. This private placement depends on receiving mandatory approvals, including that of the TSX Venture Exchange.