Koryx Copper closes $5-million placement

The most recent news release, dated January 26, 2026, announces the closing of a C$5 million non-brokered private placement (the "sidecar" offering). This completes the total C$51 million financing package initially announced on January 20, 2026, which consisted of a C$46 million bought deal financing and this concurrent C$5 million sidecar. The sidecar was placed at C$2.45 per common share with predominantly Namibian institutional and retail investors. Proceeds are earmarked to advance technical studies and exploration at the flagship Haib Copper Project in Namibia, along with working capital.

The news itself is administrative, confirming the closure of a previously announced and material financing tranche. The material event was the January 20, 2026 announcement of the C$51 million total raise. This financing is significantly positive for the company, providing ample capital to fund ongoing Pre-Feasibility Study (PFS) work, an updated Mineral Resource Estimate (MRE), and extensive drilling without near-term dilution risk. The strong participation from Namibian investors (over 40% of the total financing) is a strategic positive, reinforcing local stakeholder support. The financing price of C$2.45 represents a slight discount to the current trading range (C$2.50-$3.00), but the capital raised solidifies the company's balance sheet.

Koryx Copper is a Luxembourg-domiciled (formerly B.C.) exploration company focused on advancing the 100%-owned Haib Copper Project in southern Namibia. Haib is a large, Paleoproterozoic porphyry copper-molybdenum-gold deposit. The project hosts a current (August 2024) Mineral Resource Estimate of 414 Mt Indicated at 0.35% Cu and 345 Mt Inferred at 0.33% Cu (0.25% Cu cut-off). A Preliminary Economic Assessment (PEA) filed in September 2025 envisions a 23-year, large-scale open-pit operation with a conventional milling/flotation circuit and a heap leach component.