01:47 PM EDT, 06/06/2025 (MT Newswires) -- Onyx Gold ( ONXGF ) on Friday closed the final tranche of a non-brokered private placement financing, raising about $2.03 million.

The company had issued 1.7-million flow-through shares at $1.19 per share. In total, Onyx $13.04 million since May from the placement.

An existing strategic investor will own about 9.4% of the issued and outstanding common shares of the company following closing of the private placement.

Proceeds will be used to incur "Qualifying Expenditures" related to its projects in Ontario and the Yukon, 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.

Shares of the company were last seen down $0.02 to $1.19 on the TSX Venture Exchange.

Price: 1.19, Change: -0.02, Percent Change: -1.65