Staff Writer
Koryx Copper Inc. has closed a C$5 million (N$68 million) sidecar non-brokered private placement with mainly Namibian institutional and retail investors, lifting its total financing to C$51 million.
The company issued 2,040,816 common shares at C$2.45 per share, raising gross proceeds of C$5 million.
The placement was completed on the same terms as the C$46 million bought-deal financing announced on 6 January 2026 and closed on 20 January 2026.
Finder’s fees of C$150,000 were paid to Cirrus Capital (Pty) Ltd. All shares issued under the placement are subject to a hold period of four months and one day from the date of issue.
Koryx Copper said the net proceeds will be used to advance technical studies at its Haib Copper Project in southern Namibia, continue exploration work on the property, and support working capital and general corporate needs.
The placement remains subject to final approval by the TSX Venture Exchange.
Koryx Copper is focused on advancing its 100% owned Haib Copper Project in Namibia while building a portfolio of copper exploration licences in Zambia.
Haib is an advanced-stage copper and molybdenum porphyry deposit with a long exploration history that includes drilling by Falconbridge, Rio Tinto and Teck.
The company said more than 80 000 metres of drilling and extensive metallurgical testing have been completed at Haib.
The project hosts an indicated mineral resource of 511 million tonnes grading 0.33% copper and 51 parts per million molybdenum and an inferred resource of 308.9 million tonnes grading 0.31% copper and 40 parts per million molybdenum, based on a 0.15% copper cut-off grade.
Koryx Copper said further studies are underway to assess the potential of Haib as a long-life, low-cost open-pit copper operation.
Caption
Koryx Copper Inc. has closed a N$68 million private placement with mainly Namibian institutional and retail investors.
- Photo: Contributed
