Boron One Holdings Inc. (TSXV: BONE), an international mineral exploration and development company with operations in Serbia, announced it has completed a further private placement raising $134,000.
This follows an earlier closing on August 22nd, which raised $535,000. The company sold 3,350,000 units at $0.04 each in this latest round.
The company paid cash commissions and issued broker warrants in connection with the placement. Each unit consisted of a common share and a warrant exercisable for three years. The exercise price is $0.05 in the first year, rising to $0.07 in subsequent years. Boron One has the option to accelerate the expiry date under certain conditions.
The securities issued are subject to a four-month hold period, in accordance with TSX Venture Exchange regulations.
A portion of the units were issued to insiders, constituting a related party transaction. The company stated that it is relying on specific exemptions within securities legislation, given the value of the shares issued to insiders relative to the company’s overall market capitalization.
The proceeds from the private placement will bolster the company’s working capital.
Tim Daniels, President of Boron One, made the announcement on behalf of the board of directors. The company is headquartered in Victoria, British Columbia, Canada.
The private placement is contingent upon approval from the TSX Venture Exchange.
Boron One‘s shares trade on the TSX Venture Exchange under the symbol BONE. Further information on the company can be found on its website and through regulatory filings.
The company emphasized that this news release contains forward-looking statements. These statements reflect current expectations and plans but are subject to various risks and uncertainties that could cause actual results to differ materially. The company cautions against undue reliance on such forward-looking statements.
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