ONGold announces $7.7 million private placement financing

ONGold Resources Ltd. (TSXV: ONAU) announced it has entered into an agreement with Paradigm Capital Inc. as lead underwriter for a private placement raising $7,700,137.50 in gross proceeds.

The offering consists of three types of common shares: 2,590,700 Ontario flow-through shares at $0.965 each for $2,500,025.50 in proceeds, 2,283,200 Manitoba flow-through shares at $1.095 each for $2,500,104 in proceeds, and 3,970,600 regular common shares at $0.68 each for $2,700,008 in proceeds.

The company will use proceeds from the flow-through shares to incur eligible Canadian exploration expenses on or before December 31, 2026. These expenditures will be renounced to flow-through share subscribers effective December 31, 2025. Proceeds from regular shares will fund working capital and general corporate purposes.

The shares will be offered to purchasers in all Canadian provinces except Quebec under the listed issuer financing exemption. Shares sold under this exemption will not be subject to resale restrictions under Canadian securities laws.

The offering is expected to close on or about October 1, 2025, subject to regulatory approvals including approval from the TSX Venture Exchange.

ONGold owns exploration assets in Northern Ontario and Northern Manitoba, including the Monument Bay Gold-Tungsten Project, TPK Project, Domain Gold Project and October Gold Project.

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