Onyx Gold Adjusts Warrant Terms and Issues RSUs Amid Corporate Changes

Onyx Gold Corp. has announced key amendments to its outstanding warrant termsand provided a corporate update that includes the issuance of restricted share units (RSUs) and a transition within its corporate communications team.

Amended Warrant Terms

Onyx Gold intends to reduce the exercise price of 7,143,999 common share purchase warrants from $0.75 to $0.30. The warrants were originally issued as part of a private placement that closed on July 6, 2023.

In addition, an acceleration clause will be introduced. If the company’s share price on the TSX Venture Exchange (TSX-V) exceeds $0.375 for 10 consecutive trading days, the expiry date will be accelerated to 30 calendar days.

The proposed changes remain subject to TSX-V acceptance, and all other warrant terms remain unchanged.

Restricted Share Units Issued

As part of Onyx Gold’s omnibus incentive plan, the company has issued 1,375,000 RSUs to select directors and officers. The RSUs will vest in three equal tranches over a 36-month period, with one-third becoming exercisable at 12, 24, and 36 months after the grant date.

Leadership Transition in Corporate Communications

Onyx Gold has also announced that Nicole Hoeller, formerly VP of Corporate Communications, has stepped down to focus on her new business venture, NIKLI Communications Inc.

Despite her departure from an internal role, Hoeller will continue to provide corporate communication services to Onyx Gold as an independent contractor through NIKLI Communications.

Onyx Gold’s Exploration Focus

Onyx Gold remains focused on high-potential exploration projects in Canada’s Timmins Gold Camp and the Selwyn Basin of Yukon Territory.

• The company’s flagship Munro-Croesus Gold property in Timmins is known for exceptional high-grade mineralization.

• Two additional large exploration properties, Golden Mile and Timmins South, offer early-stage discovery potential.

• In Yukon, Onyx controls four properties in the Selwyn Basin, an emerging district gaining traction following recent discoveries.

With a seasoned management team and a disciplined exploration strategy, Onyx Gold is positioning itself to unlock shareholder value through discovery and capital-efficient growth.

By Kevin Vincent, Senior Contributing Editor to Mining Life Online and Mining Life & Exploration News

Tags: Northern Ontario / Deals & Financial / Gold / All Articles