Koryx Copper Inc. has raised gross proceeds of about N$297 million (C$25 million) through a bought-deal private placement to advance technical studies and exploration at its Haib Copper Project.
The company said the net proceeds will be used to progress technical studies at Haib, continue exploration on the property, and support working capital and general corporate purposes. Haib is a large, advanced-stage copper-molybdenum porphyry project in southern Namibia and remains the company’s flagship asset.
Under the transaction, Koryx will issue 10,205,000 common shares at N$29.11 (C$2.45) per share. The offering is being led by Stifel Canada as sole bookrunner, together with a syndicate of underwriters.
“The offering is expected to close on or about 20 January 2026 and is subject to certain conditions, including the receipt of all necessary approvals, notably acceptance by the TSX Venture Exchange,” the company said in a statement.
The underwriters have also been granted an option to purchase up to 1,530,750 additional shares at the same price, which, if fully exercised, would increase the size of the financing. The option may be exercised up to 48 hours before closing.
The placement is being completed under Canada’s Listed Issuer Financing Exemption, meaning the shares will not be subject to a statutory hold period.
Koryx Copper is focused on developing the Haib Copper Project in Namibia, while also advancing two copper exploration licences in Zambia Copperbelt.
