01:19 PM EDT, 09/10/2025 (MT Newswires) -- ONGold Resources ( ONGRF ) on Wednesday said it upsized a bought-deal private placement from about $7.7 million to $9.3 million.

The company is selling underwriters 2.6-million flow-through (FT) shares priced at $0.965 per Ontario FT share for $2.5 million, 3.4-million Manitoba FT shares" at $1.09 each for $4.1 million and 3.97-million common (HD) shares at $0.68 for $2.7 million.

The company will use an amount equal to the proceeds from the sale of the FT shares, to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures." For eligible Manitoba subscribers, an amount equal to the proceeds from the sale of the MB FT shares will also qualify as "flow-through mining expenditures" in respect of its exploration properties in Manitoba, on or before Dec. 31, 2026, and to renounce all the qualifying expenditures in favour of the subscribers of the FT shares effective Dec. 31, 2025.

Proceeds from the sale of the HD shares are expected to be used towards working capital and general corporate needs. The upsized offering is expected to close on or about Oct. 1.

Shares of the company were last seen down $0.005 to $0.90 on the TSX Venture Exchange.

Price: 0.91, Change: -0.04, Percent Change: -4.21