ONGold Resources Ltd. (TSXV: ONAU | OTCQB: ONGRF) announced on October 27, 2026 that it has completed an upsized private placement raising aggregate gross proceeds of C$9,055,558.12 under the Listed Issuer Financing Exemption. The offering comprised three unit tranches — Ontario flow-through, Manitoba flow-through, and hard-dollar units — with Paradigm Capital Inc. serving as lead agent. The financing positions ONGold to advance exploration across its Northern Ontario and Northern Manitoba gold properties, with final TSX Venture Exchange approval still pending.

Key Points

  • ONGold Resources Ltd. (TSXV: ONAU | OTCQB: ONGRF) closed its upsized Listed Issuer Financing Exemption private placement on October 27, 2026.
  • Total gross proceeds of C$9,055,558.12 were raised across three distinct unit categories at prices of $0.81, $0.93, and $0.58 per unit respectively.
  • Flow-through proceeds must be deployed as eligible Canadian exploration expenses on or before December 31, 2027, with renouncement effective December 31, 2026.
  • Investors may watch for TSX Venture Exchange final approval and exploration updates from the Monument Bay, TPK, Domain, and October Gold projects.

Three-Tranche Structure and Unit Terms of the ONGold Offering

The offering comprised 7,410,000 Ontario flow-through units at $0.81 each, raising $6,002,100; 1,615,000 Manitoba flow-through units at $0.93 each, raising $1,501,950; and 2,675,014 hard-dollar units at $0.58 each, raising $1,551,508.12. Each unit included one common share and one-half of a common share purchase warrant. Whole warrants from both flow-through tranches carry an exercise price of $0.88 per share, while hard-dollar unit warrants carry an exercise price of $0.58 per share. All warrants expire October 27, 2028. Securities issued under the Listed Issuer Financing Exemption are not subject to resale restrictions under applicable Canadian securities laws.

Agent Fees and Commission Structure

Paradigm Capital Inc. acted as lead agent and sole bookrunner alongside ATB Capital Markets Corp. and Agentis Capital Markets (AFN Limited Partnership). The agents received a cash commission equal to 6.0% of gross proceeds and were issued an aggregate of 702,001 non-transferable compensation options, each exercisable at $0.58 per common share until October 27, 2028. The offering was conducted on a best-efforts basis under Part 5A of National Instrument 45-106, as amended by Coordinated Blanket Order 45-935.

Planned Use of Proceeds Across Ontario and Manitoba Properties

ONGold has committed gross proceeds from both flow-through tranches to eligible Canadian exploration expenses qualifying as flow-through mining expenditures — Ontario proceeds targeting the company's Ontario properties and Manitoba proceeds directed toward Manitoba exploration assets. All qualifying expenditures must be incurred by December 31, 2027, with renouncement in favour of subscribers effective December 31, 2026. Net proceeds from the hard-dollar units are earmarked for working capital and general corporate purposes. ONGold's portfolio includes the Monument Bay Gold Project, TPK Project, Domain Gold Project, and October Gold Project.