Mr. Tim Daniels reports

BORON ONE ANNOUNCES FIRST CLOSING OF FINANCING

Boron One Holdings Inc. has accepted subscriptions for 9.14 million units at a price of five cents per unit, for gross proceeds of $457,000. Each unit comprised one common share and one 18-month share purchase warrant. Each warrant is exercisable at seven cents in the first six months and 12 cents for the remaining 12 months. The company has the option to accelerate the expiry date if the stock trades at 15 cents for 10 trading days during the first six months and trades at 25 cents during the next 12 months.

An insider of the company subscribed for an aggregate of 600,000 common share units of the company. The company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation.

Securities issued on this closing will be subject to a statutory hold period until Jan. 28, 2024.

The company paid finders' fees to qualified finders of $13,835.85.

The company intends to use the net proceeds of the offering for general working capital.

About Boron One Holdings Inc.

Boron One Holdings 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.