Onyx Gold closes $6.43-million private placement

Executive Summary

• Onyx Gold Corp. closed a non‑brokered private placement raising $6,439,500 at $2.43 per flow‑through share, issuing 2.65 million shares to strategic investors.
• Combined with a prior bought‑deal placement, total aggregate proceeds now total ≈ $26.44 million.
• Proceeds will be used for eligible Canadian exploration expenses on Ontario projects, with the FT shares subject to a four‑month‑plus hold period and no finders’ fees payable.

Key Details

• Placement size: Gross proceeds of $6,439,500.
• Share price: $2.43 per flow‑through (FT) common share.
• Shares issued: 2.65 million FT shares.
• Total capital raised to date: Approximately $26.44 million, including the earlier bought‑deal private placement announced on Oct. 2, 2025.
• Use of proceeds: To incur (or be deemed to incur) eligible Canadian exploration expenses qualifying as flow‑through mining expenditures for Ontario projects, to be completed on or before Dec. 31, 2026, and to renounce those expenditures to the FT shareholders effective Dec. 31, 2025.
• Regulatory terms: Shares issued under exemptions from prospectus requirements; subject to a hold period of four months and one day from issuance per Canadian securities law.
• Fees: No finders’ fees payable in connection with this placement.

Notable Quotes

(No executive quotes were provided in the release.)