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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
Onyx Announces an Increase to its Previously Announced Financing to $11 Million with the Addition...
About this update from Onyx Gold Corp.
[{"type":"text","content":"\n\n\n\n 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\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n May 8, 2025\n \n\n /CNW/ -\n \n Onyx Gold Corp.\n \n\n (\"Onyx\" or the \"Company\")\n \n (TSXV: ONYX) (OTCQX: ONXGF) is pleased to announce that in connection with its previously announced\n \n $3,000,000\n \n non-brokered private placement with a strategic investor (the \"\n \n Concurrent Private Placement\n \n \") and\n \n $5,000,000\n \n \"bought deal\" private placement, the Company and Cormark Securities Inc., together with Agentis Capital Markets Limited Partnership on behalf of a syndicate of underwriters (collectively, the \"\n \n Underwriters\n \n \"), have agreed to add a second tranche of flow-through shares to the \"bought deal\" private placement, for aggregate gross proceeds of approximately\n \n $8,038,000\n \n (the \"\n \n Offering\n \n \"). The Company expects aggregate gross proceeds of approximately\n \n $11,038,000\n \n between both the Offering and Concurrent Private Placement.\n \n\n\n\n\n\n\n\n\n The Offering will consist of (a) the issuance and sale of 5,000,000 common shares of the Company that qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the Tax (as defined below) (the \"\n \n Tranche 1\n \n\n FT Shares\n \n \") at a price of\n \n $1.00\n \n per Tranche 1 FT Share for aggregate gross proceeds of\n \n $5,000,000\n \n , and (b) 3,100,000 common shares of the Company that qualify as \"flow-through shares\" (the \"\n \n Tranche 2\n \n\n FT Shares\n \n \") at a price of\n \n $0.98\n \n per Tranche 2 FT Share for aggregate gross proceeds of\n \n $3,038,000\n \n .\n \n\n The Company will use an amount equal to the aggregate gross proceeds received by the ...