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Osisko Metals Closes C$15 Million "Bought-Deal" Flow-Through Share Financing
Globenewswire· 2026-02-04 11:00
Core Viewpoint - Osisko Metals Incorporated successfully closed a bought-deal private placement financing, issuing 11,812,000 flow-through shares at C$1.27 per share, raising gross proceeds of C$15,001,240 for Canadian exploration expenses [1][2]. Group 1: Financing Details - The financing will fund eligible "Canadian exploration expenses" classified as "flow-through critical mineral mining expenditures" for the company's projects in Canada, to be incurred by December 31, 2027 [2]. - The offering was co-led by Canaccord Genuity Corp. and BMO Capital Markets, with strategic investors Agnico Eagle Mines Limited and Hudbay Minerals Inc. purchasing shares at C$0.85 per common share for approximately C$10 million [3]. Group 2: Regulatory and Compliance Information - The flow-through shares are subject to a hold period of four months and one day from the closing date, in accordance with Canadian securities laws, and the offering is pending final acceptance by the Toronto Stock Exchange [4]. Group 3: Company Overview - Osisko Metals is focused on the critical metals sector, particularly copper and zinc, and has a 100% interest in the Gaspé Copper project, which has indicated mineral resources of 824 million tonnes grading 0.34% CuEq [6]. - The company is also advancing the Pine Point project, with indicated mineral resources of 49.5 million tonnes at 5.52% ZnEq, located in the Northwest Territories [7].
Onyx Announces an Increase to Its Previously Announced Financing to $11 Million with the Addition of a $3 Million Second Tranche of Flow-Through Shares
Newsfile· 2025-05-08 21:24
Core Viewpoint - Onyx Gold Corp. has announced an increase in its financing to $11 million, which includes a $3 million second tranche of flow-through shares added to a previously announced private placement [1][2]. Financing Details - The financing will consist of two tranches: - Tranche 1 will issue 5,000,000 common shares at $1.00 each, generating gross proceeds of $5,000,000 [2]. - Tranche 2 will issue 3,100,000 common shares at $0.98 each, generating gross proceeds of $3,038,000 [2]. - The total expected gross proceeds from both offerings is approximately $11,038,000 [1]. Use of Proceeds - The proceeds from the sale of the flow-through shares will be used to incur eligible Canadian exploration expenses related to the company's projects in Ontario and Yukon, with a deadline for incurring these expenses set for December 31, 2026 [3]. - The company will renounce all qualifying expenditures in favor of the subscribers effective December 31, 2025 [3]. Regulatory and Offering Conditions - The offerings are subject to regulatory approvals, including conditional approval from the TSX Venture Exchange, and are expected to close around May 22, 2025 [7]. - The Tranche 2 shares will be offered to purchasers in Canada (excluding Quebec) and other qualifying jurisdictions, with certain exemptions from prospectus requirements [4][5]. Company Overview - Onyx Gold is focused on exploration in established Canadian mining jurisdictions, with significant assets in Timmins, Ontario, and Yukon Territory [9]. - The company has a portfolio that includes the Munro-Croesus Gold property and other exploration properties, aiming to create shareholder value through responsible mineral exploration [9].