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Onyx Announces Closing of its Previously Announced $3 Million Financing Investment by Strategic Investor

Core Points - Onyx Gold Corp. has successfully closed the first tranche of a non-brokered private placement, raising approximately $3 million by issuing 3,490,343 common shares at a price of $0.85 per share [1][2] - The net proceeds from this financing will be utilized for general corporate purposes [2] - The second tranche of the private placement is expected to close around June 6, 2025, pending necessary approvals [3] Company Overview - Onyx Gold is an exploration company focused on Canadian mining jurisdictions, with significant assets in Timmins, Ontario, and Yukon Territory [5] - The company holds a portfolio of gold projects, including the high-grade Munro-Croesus Gold property and two earlier-stage exploration properties, Golden Mile and Timmins South [5] - Onyx Gold also controls four properties in the Selwyn Basin area of Yukon Territory, which is gaining attention due to recent discoveries [5] - The management team is dedicated to creating shareholder value through responsible mineral exploration and capital allocation [5]