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
Summary
Onyx Announces an Increase to its Previously Announced Financing to $11 Million with the Addition of a $3 Million Second Tranche of Flow-Through SharesNot for distribution to United States newswire services or for dissemination in the United StatesVancouver, BC, May 8, 2025 Onyx Gold Corp. (Onyx or the Company) (TSX-V: ONYX, OTCQX: ONXGF) is pleased to announce that in connection with its previously announced $3,000,000 non-brokered private placement with a strategic investor (the Concurrent Private Placement) and $5,000,000 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 Underwriters), have agreed to add a second tranche of flow-through shares to the bought deal private placement, for aggregate gross proceeds of approximately $8,038,000 (the Offering). The Tranche 2 FT Shares will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable securities laws.As previously announced by the Company in its news release dated May 7, 2025, the Tranche 1 FT Shares will be offered for sale to purchasers resident in all Provinces of Canada except for Quebec and/or other qualifying jurisdictions pursuant to the Listed Issuer Financing Exemption of NI 45-106. The Tranche 1 FT Shares issued under the Listed Issuer Financing Exemption will not be subject to a hold period pursuant to applicable Canadian securities laws.In connection with the addition of the Tranche 2 FT Shares to the Offering, the Company has filed an amended offering document dated May 8, 2025 related to the Offering in accordance with the Listed Issuer Financing Exemption that can be accessed under the Companys profile on SEDAR+ at www.sedarplus.ca and on the Companys website at www.onyxgold.com. United States and U.S. person have the meaning ascribed to them in Regulation S under the 1933 Act.Onyx Gold is an exploration company focused on well-established Canadian mining jurisdictions, with assets in Timmins, Ontario, and Yukon Territory. Onyx Golds experienced board and senior management team are committed to creating shareholder value through the discovery process, careful allocation of capital, and environmentally/socially responsible mineral exploration.For further information, please visit the Onyx Gold Corp. website at www.onyxgold.com or contact:Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws.