ONGold Announces Upsize of Bought Deal Life Private Placement for Gross Proceeds of $9.3 Million

Core Viewpoint - ONGold Resources Ltd. has successfully increased the size of its private placement offering from approximately $7.7 million to $9.3 million due to strong investor demand [1][4]. Group 1: Offering Details - The upsized offering will consist of 2,590,700 flow-through shares (ON FT Shares) priced at $0.965 each, generating gross proceeds of approximately $2.5 million [5]. - Additionally, the offering includes 3,374,300 flow-through shares (MB FT Shares) priced at $1.095 each, expected to raise about $4.1 million [5]. - The offering will also feature 3,970,600 common shares (HD Shares) priced at $0.68 each, anticipated to yield around $2.7 million [5]. Group 2: Use of Proceeds - The gross proceeds from the sale of the FT Shares will be used to incur eligible Canadian exploration expenses, qualifying as flow-through mining expenditures [2]. - For Ontario subscribers, the proceeds will also qualify as Ontario exploration expenditures, while for Manitoba subscribers, they will qualify under the Manitoba Tax Act [2]. - The proceeds from the HD Shares are expected to be allocated towards working capital and general corporate purposes [2]. Group 3: Regulatory and Closing Information - The offering is subject to compliance with regulatory requirements and is expected to close on or about October 1, 2025, pending necessary approvals [8]. - The shares will be offered to purchasers in all provinces of Canada, excluding Quebec, under the Listed Issuer Financing Exemption [3].