Onyx Gold Issues Incentive Stock Options

Rhea-AI Summary

Onyx Gold Corp. (TSXV: ONYX) (OTCQX: ONXGF) has announced the granting of incentive stock options under its Omnibus Share Incentive Plan. The company has issued a total of 1,650,000 Options to officers, directors, employees, and consultants. These Options have been granted at an exercise price of $0.20 per share and are valid for a five-year period. All Options are subject to a vesting schedule over the first 24 months. This issuance of Options follows the company's annual compensation review.

Positive

• Incentive stock options granted to align interests of key personnel with shareholders
• Five-year option period provides long-term incentive for recipients

Negative

• Potential dilution of existing shareholders' ownership if options are exercised

Vancouver, British Columbia--(Newsfile Corp. - October 4, 2024) - Onyx Gold Corp. (TSXV: ONYX) (OTCQX: ONXGF) ("Onyx Gold" or the "Company") announces that it has granted incentive stock options (the "Options") under the Company's Omnibus Share Incentive Plan to officers, directors, employees, and consultants of the Company. An aggregate of 1,650,000 Options were granted at an exercise price of $0.20 per share for a period of five years. All of the Options are subject to vesting over the first 24 months. The Options are being issued following the Company's annual compensation review.

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 (440 km²) 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 totaling 227 km² 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, VP of Corporate Communications
Phone: 1-604-283-3341
Email: nicole@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

NOTE: 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225666

FAQ

How many stock options did Onyx Gold Corp. (ONXGF) grant on October 4, 2024?

Onyx Gold Corp. granted 1,650,000 incentive stock options on October 4, 2024.

What is the exercise price for the stock options issued by Onyx Gold Corp. (ONXGF)?

The exercise price for the stock options issued by Onyx Gold Corp. is $0.20 per share.

What is the vesting period for the stock options granted by Onyx Gold Corp. (ONXGF)?

The stock options granted by Onyx Gold Corp. are subject to vesting over the first 24 months.

How long are the stock options valid for Onyx Gold Corp. (ONXGF)?

The stock options granted by Onyx Gold Corp. are valid for a period of five years.