Boron One Announces Update to Early Warrant Exercise Incentive Program

VICTORIA, BC / ACCESSWIRE / May 29, 2024 / Boron One Holdings Inc. ("Boron One" or the "Company") (TSXV:BONE), is providing an update to its press release dated May 6, 2024 announcing the warrant exercise incentive program. The Program is 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 January 25, 2023. Each Eligible Warrant is exercisable for one common share of the Company (each a "Common Share") at a price of $0.05 per Common Share.

Pursuant to the Program, the Company is offering an inducement to each holder of Eligible Warrants ("Warrant Holders") that exercises Eligible Warrants during an early exercise period (the "Early Exercise Period") consisting of one new Warrant (the "New Warrant") in addition to the common share subscribed for. Each New Warrant is exercisable at $0.07 for 30 months, subject to the right of the Corporation to accelerate expiry upon 30 days' notice if the shares of the Corporation trade on the TSX Venture Exchange at or above $0.15 for a period of 10 days.

To the extent that holders of Eligible Warrants 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 May 29, 2024 and terminate on June 12, 2024.

The Program is subject to approval from the TSX Venture Exchange (the "Exchange") and is subject to the receipt of all final regulatory approvals, including final approval of the Exchange. 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 10,626,000 Eligible Warrants, and the Company will issue no more than 1,062,600 Incentive Warrants to insiders under the Program. Insiders presently hold 10.35% of the Eligible Warrants.

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 TSX Venture 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.sedar.com.

For further information, please contact:
Boron One Holdings Inc.
Blake Fallis, General Manager
Phone: 1-250- 384-1999 or 1-888-289-3746
info@boronone.com
www.boronone.com

Boron's Public Quotations:
Canada
TSX Venture:BONE
Berlin:EKV
US: SEC 12G3-2(B) #82-4432ERVFF
OTC PINK:ERVFF

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Boron One Holdings Inc.

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