Boron One Holdings Inc. announced a non-brokered private placement of up to 7,142,857 units at the price of CAD 0.07 per unit for gross proceeds of up to CAD 500,000 on May 15, 2023. Each unit is comprised of one common share and one warrant which will be exercisable into one common share. Each Warrant will have a term of two years and will entitle the holder to purchase one warrant share at a price of CAD 0.15 per share following the closing date.

The warrants also have an acceleration clause whereby if the Common Shares trade on the TSXV at a price equal or greater than the designated trigger price of CAD 0.25 for more than ten consecutive trading days, the company shall have the right to give written notice to the holder requiring the holder to exercise the warrant, in whole or in part, within a period of thirty days from the date of receipt of notice from Boron One. The common shares and warrants comprising the units will be subject to a four-month and one day hold period in accordance with the policies of the TSXV and applicable securities legislation. This transaction will be carried on a private placement basis pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange.