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Onyx Announces Upsize of Brokered Financing to $18 Million and Concurrent $5.6 Million Non-Brokered Financing at $2.43 per Share Involving Strategic Investors
Vancouver, British Columbia--(Newsfile Corp. - September 17, 2025) - Onyx Gold Corp. (TSXV:...
About this update from Onyx Gold Corp.
[{"type":"text","content":"Onyx Announces Upsize of Brokered Financing to $18 Million and Concurrent $5.6 Million Non-Brokered Financing at $2.43 per Share Involving Strategic InvestorsVancouver, British Columbia--(Newsfile Corp. - September 17, 2025) - Onyx Gold Corp. (TSXV: ONYX) (OTCQX: ONXGF) (\"Onyx\" or the \"Company\") is pleased to announce that, in connection with its previously announced $15,000,000 \"bought deal\" private placement, Cormark Securities Inc., together with Canaccord Genuity Corp. on behalf of a syndicate of underwriters (collectively, the \"Underwriters\"), have agreed with the Company to increase the size of the \"bought deal\" private placement by approximately $3,000,000 for gross aggregate proceeds of $18,000,000 (the \"Offering\").The Company is also pleased to announce a concurrent non-brokered private placement priced at $2.43 per NB FT Share (as defined below) for gross aggregate proceeds of approximately $5,600,000 (the \"Non-Brokered Private Placement\"), involving strategic investors. Between the Offering and the Non-Brokered Private Placement, the Company expects to raise aggregate gross proceeds of approximately $23,600,000 (or approximately $25,600,000 if the Option (as defined below) is exercised in full).The OfferingThe Offering will consist of the issuance and sale of: (i) 4,740,000 common shares of the Company that will each qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the \"FT Shares\"), at a price of $2.11 per FT Share, for gross proceeds of $10,001,400, and (ii) 5,332,400 common shares of the Company (the \"HD Shares\") at a price of $1.50 per HD Share, for gross proceeds of $7,998,600, for aggregate gross proceeds to the Company of $18,000,000.In addition, the Company has granted the Underwriters an option (the \"Option\") to further increase the size of the Offering by up to an additional $2,000,000 (through the issuance and sale of an additional number of FT Shares, HD Shares or a combination thereof), on the same terms and conditions as the Offering, by giving written notice of the exercise of the Option, or a part thereof, to the Company at any time up to 48 hours prior to the Closing Date (as defined below). Unless the context otherwise requires, all references to the Offering shall include any FT Shares and/or HD Shares issu...