Onyx Announces Closing of $6.4 Million Non-Brokered Financing at $2.43 per Share Involving Strategic Investors, Bringing Total Aggregate Proceeds Raised to $26.4 Million

Executive Summary

• Onyx Gold Corp. closed a non‑brokered private placement of 2,650,000 flow‑through common shares at $2.43 per share, generating gross proceeds of $6,439,500.
• Combined with a recently completed “bought‑deal” placement, total capital raised to date is approximately $26.44 million.
• Proceeds will be used for eligible Canadian exploration expenses on Ontario projects and will be renounced to shareholders by December 31 2025, with a four‑month hold period on the shares.

Key Details

• Placement Size: 2,650,000 common shares (FT Shares) issued.
• Price per Share: $2.43 CAD.
• Gross Proceeds: $6,439,500 CAD.
• Total Capital Raised to Date: ~ $26,440,000 CAD (including the earlier bought‑deal placement announced Oct 2 2025).
• Use of Proceeds: To incur eligible “Canadian exploration expenses” (flow‑through mining expenditures) on Onyx’s Ontario projects, incurred on or before Dec 31 2026.
• Renunciation: All qualifying expenditures will be renounced to the FT Share subscribers effective Dec 31 2025.
• Hold Period: Shares subject to a four‑month and one‑day hold period from issuance per Canadian securities law.
• Finder’s Fees: None payable in connection with this placement.
• Regulatory Notes: Offer made under prospectus exemptions; securities not registered in the United States and may not be offered there without exemption.

Notable Quotes

“We are pleased to have successfully closed this strategic financing, which provides us with the capital needed to advance our high‑potential Ontario projects while delivering tax‑efficient benefits to our investors.” – Brock Colterjohn, President & CEO, Onyx Gold Corp.