Boron One closes $401,000 first tranche of financing

Executive Summary

• Boron One Holdings Inc. completed the first closing of a private placement, issuing 10,025,000 units at $0.04 per unit for gross proceeds of $401,000.
• Each unit includes one common share and one warrant; warrants are exercisable over three years with tiered pricing ( $0.05 in year 1, $0.07 thereafter).
• Net proceeds will be used for working‑capital needs; related‑party units (75,000) were issued to an insider under exempt securities provisions.

Key Details

• Units sold: 10,025,000 at $0.04 per unit → Gross proceeds: $401,000.
• Unit composition: 1 common share + 1 common‑share purchase warrant.
• Warrant terms: Exercisable for three years from closing; exercise price $0.05 in year 1, $0.07 in years 2‑3; corporation may accelerate expiry if stock trades ≥ $0.10 for ten trading days.
• Holding period: Shares and warrants subject to a 4‑month‑and‑1‑day hold per TSX Venture Exchange rules.
• Related‑party transaction: 75,000 units issued to an insider; exemption relied on under sections 5.5(a) & 5.7(a) of MI 61‑101 (fair market value < 25 % of market cap).
• Use of proceeds: Net proceeds earmarked for working capital requirements.
• Finder’s fees: $13,000 paid to a qualified finder.
• Broker warrants issued: 325,000 broker warrants as part of the placement.
• Closing conditions: Subject to receipt of all required approvals, including TSX Venture Exchange acceptance.

Notable Quotes

(No executive quotes were provided in the release.)