Core Points - Onyx Gold Corp. has successfully closed a "bought deal" private placement, raising total gross proceeds of approximately $20 million through the issuance of flow-through shares and non-flow-through common shares [1][3][4] Group 1: Offering Details - The private placement consisted of 4,740,000 flow-through shares priced at $2.11 each, generating gross proceeds of $10,001,400, and 6,665,733 non-flow-through shares priced at $1.50 each, generating gross proceeds of $9,998,599.50 [1] - The offering was led by Cormark Securities Inc. and Canaccord Genuity Corp. as part of a syndicate of underwriters [2] - The underwriters were granted an option to increase the offering size by up to $2 million, which was fully exercised, resulting in an additional 1,333,333 non-flow-through shares issued for gross proceeds of $1,999,999.50 [3] Group 2: Use of Proceeds - The proceeds from the sale of flow-through shares will be used to incur eligible Canadian exploration expenses related to the company's projects in Ontario, with a commitment to renounce these expenditures to subscribers by December 31, 2025 [5] - The net proceeds from the non-flow-through shares will be allocated for exploration of mineral properties and general corporate purposes [6] Group 3: Regulatory Compliance - The shares were offered for sale to purchasers in all provinces of Canada under the Listed Issuer Financing Exemption, and will not be subject to a hold period under applicable Canadian securities laws [7]
Onyx Announces Closing of Brokered Financing for $20 Million