Core Points - Onyx Gold Corp. has announced an upsize in its non-brokered private placement to approximately $6.4 million at a price of $2.43 per share, involving strategic investors [1][2] - The total proceeds from recent financings, including a previously closed $20 million bought deal, are expected to reach approximately $26.4 million, enhancing the company's financial flexibility for exploration programs [1][2] Non-Brokered Private Placement - The Non-Brokered Private Placement will consist of the sale and issuance of 2,650,000 common shares, qualifying as "flow-through shares," for aggregate gross proceeds of $6,445,000 [2] - The proceeds will be used to incur qualifying expenditures related to the company's projects in Ontario, with a deadline for incurring these expenditures set for December 31, 2026 [3] Closing and Conditions - The Non-Brokered Private Placement is expected to close on or about October 15, 2025, subject to certain conditions, including approval from the TSX Venture Exchange [4] Securities Regulations - The NB FT Shares will be offered under applicable exemptions from prospectus requirements and will be subject to a hold period of four months and one day from the date of issuance [5] Company Overview - Onyx Gold is focused on exploration in established Canadian mining jurisdictions, with significant assets in Timmins, Ontario, and Yukon Territory [7][8] - The company's portfolio includes the high-grade Munro-Croesus Gold property and other exploration properties, indicating a strong position in the gold mining sector [7]
Onyx Gold Announces Upsize in Non-Brokered Financing to $6.4 Million at $2.43 per Share Involving Strategic Investors