Boron One Holdings Inc. announced a non-brokered private placement of up to 11,000,000 units at a price of CAD 0.05 per unit for the gross proceeds of CAD 550,000 on September 21, 2023. Each unit consists of one common share and one common share warrant. Each warrant entitles the holder to subscribe for one additional common share for a period of 18 months from the date of closing.

The warrants are exercisable at a price of CAD 0.07 for the first six months and exercisable at CAD 0.12 for the remaining 12 months. The company has the option to accelerate the expiry date if the stock trades at CAD 0.15 for 10 trading days during the first six months, and trades at CAD 0.25 during the following 12 months. The company may pay qualified finders fees consisting of 10% in cash and 10% in brokers warrants.