Onyx Gold Corp. Receives Final Approval to List on TSX Venture Exchange
Onyx Gold Corp. Receives Final Approval to
List on TSX Venture Exchange
Vancouver, British Columbia--(Newsfile Corp. - July 19, 2023) -
Onyx Gold Corp.
("
Onyx Gold
" or the
"
Company
) is pleased to announce that further to its news release dated July 11, 2023, the TSX
Venture Exchange ("
TSXV
") has approved the Company's application to list as a Tier 2 issuer on the
TSXV.
The Onyx Gold Shares will commence trading on the TSXV under the symbol "
TSXV: ONYX
" at
the opening of market on July 24, 2023.
For further details, please refer to the Form 2B - Listing Application dated July 13, 2023 available
on the
Company's SEDAR profile available at
www.sedar.com
(the "
Listing Application
").
Appointment of New Management Team
Effective July 13, 2023, Onyx Gold's management team is comprised of:
Brock Colterjohn
Chief Executive Officer
Darwin Green
Executive Chairman
Aris Morfopoulos
Chief Financial Officer and Corporate Secretary
Ian Cunningham-Dunlop
Executive Vice-President
Conor McKinley
Vice-President Exploration
Nicole Hoeller
Vice-President Corporate Communications
Onyx Gold's board of directors is comprised of Brock Colterjohn, Darwin Green, Michael Cinnamond,
Gwen Preston and Kiran Patankar. Effective July 13, 2023, Mr. Colterjohn was appointed as director in
place of Mr. Morfopoulos, who was previously a director of the Company.
Issuance of Stock Options and RSUs
Onyx Gold also announces that a total of 2,350,000 stock options (the "
Options
") and 1,150,000
restricted share units (the "
RSUs
") have been granted to certain officers, directors and employees of the
Company pursuant to the Company's omnibus incentive plan.
The Options are each exercisable at an exercise price of $0.50 per Onyx Share for a period of five
years. 2,200,000 of the Options will vest over three years from the date of grant, with 1/3 vesting each
year. The remaining 150,000 Options will vest over two years from the date of grant, with 1/6 vesting on
the date that is three months following the date of grant, 1/6 on the date that is six months from the date
of grant, 1/3 on the date that is one year following the date of grant and 1/3 on the date that is two years
following the date of grant.
Each RSU, upon vesting, will be settled by cash payment, or at the sole discretion of the board of
directors of Onyx Gold, by the issuance of a common share of Onyx Gold. The RSUs will vest over a
three year period, with 1/3 vesting each year.
For further details regarding the grants outlined above, please refer to the Listing Application.
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 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.
"
Darwin Green
"
Executive Chairman & Director
Darwin Green, Executive Chairman & Director
Phone:
1-604-629-1165
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward-looking statements: This news release includes certain "forward-looking information" within
the meaning of Canadian securities legislation and "forward-looking statements" within the meaning
of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward looking
statements"). Forward-looking statements include predictions, projections and forecasts and are often,
but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate",
"forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements
that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar
expressions and includes the negatives thereof. All statements other than statements of historical fact
included in this release, including, without limitation, the first trading date of the Onyx Gold Shares on
the TSXV and the listing of the Onyx Gold Shares on the TSXV are forward-looking statements that
involve various risks and uncertainties. There can be no assurance that such statements will prove to
be accurate and actual results and future events could differ materially from those anticipated in such
statements. Forward-looking statements are based on a number of material factors and assumptions.
Important factors that could cause actual results to differ materially from Company's expectations
include, among other things, the delay of the first trading date of the Onyx Gold Shares on the TSXV.
Although the Company has attempted to identify important factors that could cause actual actions,
events or results to differ from those described in forward-looking statements, there may be other
factors that cause such actions, events or results to differ materially from those anticipated. There can
be no assurance that forward-looking statements will prove to be accurate and accordingly readers are
cautioned not to place undue reliance on forward-looking statements.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/174139