Koryx Copper Inc. has completed a N$58.6 million (C$5 million) sidecar non-brokered private placement with mainly Namibian institutional and retail investors, lifting its total recent fundraising to N$596.2 million (C$51 million).
The company said the placement involved the issue of 2,040,816 common shares at N$28.69 (C$2.45) per share, on the same terms as its earlier N$538.7 million (C$46 million) bought-deal financing announced on 6 January and closed on 20 January 2026.
“The terms are consistent with the C$46 million bought-deal financing announced on 6 January 2026 and closed on 20 January 2026,” Koryx said.
Koryx said proceeds from the Namibian placement will be used to advance technical studies at its Haib Copper Project, continue exploration activities on the property, and support working capital and general corporate purposes.
In connection with the transaction, the company paid a finder’s fee of N$1.76 million (C$150,000) to Cirrus Capital.
All shares issued are subject to a statutory hold period of four months and one day from the date of issuance.
Koryx said the placement remains subject to final approval by the TSX Venture Exchange.
The company is focused on advancing its 100%-owned Haib Copper Project in southern Namibia, a large copper-molybdenum porphyry deposit with a long exploration history. Koryx is also building a portfolio of copper exploration licences in Zambia.
According to the company, ongoing technical studies are aimed at positioning Haib as a long-life, low-cost open-pit copper operation, with potential for additional production through heap leaching.
