In This Article:
VICTORIA, BC / ACCESS Newswire / April 22, 2025 / Boron One Holdings Inc. ("Boron One" or the "Company") (TSXV:BONE), is providing an update to its press release dated April 7, 2025 announcing the warrant exercise incentive program. The Program is intended 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 on June 7, 2024, September 10, 2024 and September 25, 2024, respectively. Each Eligible Warrant is exercisable for one common share of the Company (each a "Common Share") at a price of $0.07 per Common Share. The Company intends to amend the exercise price to $0.05 (the "Warrant Repricing") for the term of the Warrant Incentive Program, following receipt of TSX Venture Exchange (the "Exchange") acceptance. All other terms of the Eligible Warrants will remain the same, including the expiry dates of December 7, 2026 for the June 7, 2024 Warrants, March 10, 2027 for the September 10, 2024 Warrants and March 25, 2027 for the September 25, 2024 Warrants. Upon the expiration of the Warrant Incentive Program, the exercise price of any unexercised Eligible Warrants will revert to the original exercise price of $0.07 per Common Share.
To the extent that holders of Eligible Warrants ("Warrant Holders") take advantage of the opportunity to exercise their Eligible Warrants early, this will fund working capital purposes. Eligible Warrants that remain unexercised following the completion of the Early Exercise Period (defined below) will continue to be exercisable for Common Shares on the original terms as they existed prior to the Program.
The Early Exercise Period will commence on April 23, 2025 and terminate on May 7, 2025.
The Program and Warrant Repricing are subject to approval from the Exchange and the receipt of all final regulatory approvals, including final approval of the Exchange. Insiders presently hold 900,000 Eligible Warrants. The number of Eligible Warrants to be exercised by insiders of the Company is limited to no more than 10% of the total Eligible Warrants, being 969,100 Eligible Warrants, and the Company will issue no more than 969,100 Incentive Warrants to insiders under the Program.
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 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.sedarplus.ca