01:55 PM EDT, 05/29/2025 (MT Newswires) -- Onyx Gold ( ONXGF ) on Thursday said it closed the first tranche of a non-brokered private placement with a strategic investor for gross proceeds of about $3 million.

The company issued the investor 3.49-million shares at a price of $0.85 each.

Onyx will use proceeds of the first tranche of the private placement for general corporate purposes.

The company a second tranche of the private placement is scheduled to close on or about June 6.

The company's shares were last seen down $0.11 to $1.22 on the TSX Venture Exchange.

Price: 1.22, Change: -0.11, Percent Change: -8.27