50% Mr. Tim Daniels reports
BORON ONE ANNOUNCES SUCCESSFUL CLOSING OF EARLY WARRANT EXERCISE INCENTIVE PROGRAM
Boron One Holdings Inc. has closed its previously announced (May 6, 2024 and May 28, 2024) warrant exercise incentive program. The program was intended to encourage the exercise of up to 10,626,000 unlisted common share purchase warrants of the company (the eligible warrants) which were issued as part of the company's private placement which closed on Jan. 25, 2023. Each eligible warrant was exercisable for one common share of the company at a price of five cents per common share.
Pursuant to the program, the holders exercised 5,366,000 eligible warrants for proceeds of $268,300 which will be used for general working capital. Participating holders were issued 5,366,000 additional common share purchase warrant. Each incentive warrant entitles the holder to purchase one additional common share until 5 p.m. (Vancouver time) Dec. 19, 2026. Each incentive warrant is exercisable at seven cents subject to the right of the corporation to accelerate expiry upon 30 days of notice if the shares of the corporation trade on the TSX Venture Exchange at or above 15 cents for a period of 10 days..