Onyx Gold Announces Warrant Acceleration and over $1 Million Exercised to Date
Onyx Gold Corp (TSXV: ONYX) (OTCQX: ONXGF) has announced the acceleration of expiry for outstanding common share purchase warrants originally issued on July 6, 2023. Out of 7,143,999 total warrants at an amended purchase price of $0.30, 3,419,111 warrants have been exercised, generating proceeds of $1,025,733, with 3,724,888 warrants remaining.
The warrant expiry acceleration was triggered as the company's share price exceeded $0.375 for 10 consecutive trading days. The remaining warrants must be exercised by May 24, 2025, or they will expire. If all remaining warrants are exercised, it would result in additional proceeds of up to $2.14 million.
The funds will support exploration efforts, particularly at the Argus North target in Timmins, where recent drilling revealed significant gold mineralization of 3.4 g/t Au over 69.6 m, including a high-grade subzone of 13.9 g/t Au over 9.5 m. Drilling is scheduled to commence in early May.
Onyx Gold Corp (TSXV: ONYX) (OTCQX: ONXGF) ha annunciato l'accelerazione della scadenza dei warrant per l'acquisto di azioni ordinarie emessi originariamente il 6 luglio 2023. Su un totale di 7.143.999 warrant con un prezzo di acquisto modificato di 0,30$, 3.419.111 warrant sono stati esercitati, generando proventi per 1.025.733$, mentre ne rimangono 3.724.888.
L'accelerazione della scadenza dei warrant è stata attivata poiché il prezzo delle azioni della società ha superato 0,375$ per 10 giorni di negoziazione consecutivi. I warrant rimanenti devono essere esercitati entro il 24 maggio 2025, altrimenti scadranno. Se tutti i warrant residui saranno esercitati, si potrebbero ottenere ulteriori proventi fino a 2,14 milioni di dollari.
I fondi supporteranno gli sforzi di esplorazione, in particolare presso il bersaglio Argus North a Timmins, dove le recenti perforazioni hanno rivelato una mineralizzazione significativa dell’oro di 3,4 g/t Au su 69,6 m, inclusa una sottosezione ad alta concentrazione di 13,9 g/t Au su 9,5 m. Le perforazioni sono previste per l’inizio di maggio.
Onyx Gold Corp (TSXV: ONYX) (OTCQX: ONXGF) ha anunciado la aceleración del vencimiento de los warrants para la compra de acciones comunes emitidos originalmente el 6 de julio de 2023. De un total de 7,143,999 warrants con un precio de compra modificado de $0.30, se han ejercido 3,419,111 warrants, generando ingresos por $1,025,733, quedando 3,724,888 warrants pendientes.
La aceleración del vencimiento de los warrants se activó porque el precio de las acciones de la compañía superó los $0.375 durante 10 días hábiles consecutivos. Los warrants restantes deben ejercerse antes del 24 de mayo de 2025, o expirarán. Si se ejercen todos los warrants restantes, se podrían obtener ingresos adicionales de hasta $2.14 millones.
Los fondos apoyarán los esfuerzos de exploración, especialmente en el objetivo Argus North en Timmins, donde los recientes sondeos revelaron una mineralización significativa de oro de 3.4 g/t Au sobre 69.6 m, incluyendo una subzona de alta ley de 13.9 g/t Au sobre 9.5 m. Las perforaciones están programadas para comenzar a principios de mayo.
Onyx Gold Corp (TSXV: ONYX) (OTCQX: ONXGF)는 2023년 7월 6일에 최초 발행된 보통주 매수 워런트의 만료 기간 단축을 발표했습니다. 총 7,143,999개의 워런트 중 수정된 매수 가격이 $0.30인 워런트 중 3,419,111개가 행사되어 1,025,733달러의 수익을 창출했으며, 3,724,888개의 워런트가 남아 있습니다.
워런트 만료 단축은 회사 주가가 10거래일 연속 $0.375를 초과함에 따라 발동되었습니다. 남은 워런트는 2025년 5월 24일까지 행사해야 하며, 그렇지 않으면 만료됩니다. 남은 모든 워런트가 행사될 경우 최대 214만 달러의 추가 수익이 발생할 수 있습니다.
자금은 탐사 작업을 지원할 예정이며, 특히 최근 시추에서 69.6m 구간에서 3.4 g/t Au의 유의미한 금 광화가 확인된 팀민스의 Argus North 목표지점에서 집중될 것입니다. 고품위 하위 구간은 9.5m 구간에서 13.9 g/t Au를 기록했습니다. 시추 작업은 5월 초에 시작될 예정입니다.
Onyx Gold Corp (TSXV : ONYX) (OTCQX : ONXGF) a annoncé l'accélération de l'expiration des bons de souscription d'actions ordinaires en circulation, initialement émis le 6 juillet 2023. Sur un total de 7 143 999 bons au prix d'achat modifié de 0,30 $, 3 419 111 bons ont été exercés, générant des recettes de 1 025 733 $, tandis que 3 724 888 bons restent en circulation.
L'accélération de l'expiration des bons a été déclenchée car le cours de l'action de la société a dépassé 0,375 $ pendant 10 jours de bourse consécutifs. Les bons restants doivent être exercés avant le 24 mai 2025, sous peine d'expiration. Si tous les bons restants sont exercés, cela générerait des recettes supplémentaires pouvant atteindre 2,14 millions de dollars.
Les fonds soutiendront les efforts d'exploration, notamment sur la cible Argus North à Timmins, où les récents forages ont révélé une minéralisation aurifère significative de 3,4 g/t Au sur 69,6 m, incluant une sous-zone à haute teneur de 13,9 g/t Au sur 9,5 m. Les forages sont prévus pour début mai.
Onyx Gold Corp (TSXV: ONYX) (OTCQX: ONXGF) hat die Beschleunigung des Ablaufs der ausstehenden Kaufoptionen für Stammaktien angekündigt, die ursprünglich am 6. Juli 2023 ausgegeben wurden. Von insgesamt 7.143.999 Optionsscheinen mit einem geänderten Kaufpreis von 0,30 $ wurden 3.419.111 Optionsscheine ausgeübt, was Einnahmen in Höhe von 1.025.733 $ generierte, während 3.724.888 Optionsscheine verbleiben.
Die Beschleunigung der Optionsscheinabläufe wurde ausgelöst, da der Aktienkurs des Unternehmens 10 aufeinanderfolgende Handelstage über 0,375 $ lag. Die verbleibenden Optionsscheine müssen bis zum 24. Mai 2025 ausgeübt werden, andernfalls verfallen sie. Wenn alle verbleibenden Optionsscheine ausgeübt werden, könnten zusätzliche Einnahmen von bis zu 2,14 Millionen Dollar erzielt werden.
Die Mittel werden die Explorationsbemühungen unterstützen, insbesondere am Argus North Ziel in Timmins, wo kürzliche Bohrungen eine signifikante Goldmineralisierung von 3,4 g/t Au über 69,6 m zeigten, einschließlich einer hochgradigen Unterzone von 13,9 g/t Au über 9,5 m. Die Bohrungen sollen Anfang Mai beginnen.
- Recent warrant exercises generated $1.02 million in proceeds
- Potential additional proceeds of $2.14 million if remaining warrants are exercised
- Recent drilling results showed strong gold mineralization (3.4 g/t Au over 69.6 m)
- Forced acceleration of warrant expiry may pressure holders to exercise or lose their warrants
Vancouver, British Columbia--(Newsfile Corp. - April 24, 2025) - Onyx Gold Corp. (TSXV: ONYX) (OTCQX: ONXGF) ("Onyx Gold" or the "Company") announces today the acceleration of the expiry of outstanding common share purchase warrants (the "Warrants") of the Company that were originally issued July 6, 2023 and amended January 29, 2025 (see news release, Jan 29, 2025). Out of the original 7,143,999 in total Warrants issued at an amended purchase price of
Pursuant to the terms of Warrants, the expiry date of the Warrants accelerates if the closing share price on the TSX Venture Exchange ("TSXV") exceeds
"We're pleased to see strong support from our shareholders through the early exercise of warrants, and we anticipate the bulk of the remaining warrants will be exercised in the coming weeks, resulting in gross proceeds of up to
About Onyx Gold
Onyx Gold is an exploration company focused on well-established Canadian mining jurisdictions, with assets in Timmins, Ontario, and Yukon Territory. The Company's extensive portfolio of quality gold projects in the greater Timmins gold camp includes the Munro-Croesus Gold property, renowned for its high-grade mineralization, plus two additional earlier-stage large exploration properties, Golden Mile and Timmins South. Onyx Gold also controls four properties in the Selwyn Basin area of Yukon Territory, which is currently gaining significance due to recent discoveries in the area. Onyx Gold's 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.
On Behalf of Onyx Gold Corp.
"Brock Colterjohn"
President & CEO
For further information, please visit the Onyx Gold Corp. website at www.onyxgold.com or contact:
Brock Colterjohn, President & CEO
or
Nicole Hoeller, NIKLI Communications
Phone: 1-604-283-3341
Email: brock@onyxgold.com or information@onyxgold.com.
Website: www.onyxgold.com
LinkedIn: https://www.linkedin.com/company/onyx-gold-corp/?viewAsMember=true
Twitter: https://twitter.com/OnyxGoldCorp
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events, or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release, and include without limitation, statements regarding discussions of future plans, estimates and forecasts, and statements as to management's expectations and intentions with respect to, among other things, the use of proceeds of warrant exercises.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, changes in the Company's plans for the proceeds of the warrant exercises.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information, or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249735
FAQ
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