Koryx Copper increases bought deal offering to $40M

Executive Summary

• Koryx Copper Inc. has upsized its previously announced bought deal private placement to $40 million due to strong investor demand.
• The company is issuing 16,327,000 common shares at $2.45 per share, with an additional option for the underwriters to purchase up to 2,449,050 more shares.
• Net proceeds will be used to advance technical studies on the Haib copper project in Namibia, continue exploration, and for working capital and general corporate purposes.

Key Details

• Transaction Structure: Upsized bought deal private placement via Stifel Canada (sole bookrunner) and a syndicate of underwriters.
• Share Price: $2.45 per common share.
• Base Offering Size: 16,327,000 common shares.
• Gross Proceeds: $40,001,150.
• Over-Allotment Option: Underwriters have an option to purchase up to 2,449,050 additional common shares at $2.45 per share on the same terms.
• Option Expiry: Exercisable in whole or in part up to 48 hours prior to the closing of the offering.
• Use of Proceeds: Advancing technical studies on the Haib copper project, continuing exploration on the property, working capital, and general corporate purposes.
• Underwriter Compensation:
  • Cash commission: 6% of gross proceeds.
  • Compensation warrants: 3% of the number of common shares sold.
  • Warrant Terms: Each warrant entitles the holder to acquire one common share at an exercise price of $2.45 for a period of 24 months from the date of issue.
• Regulatory Exemptions: Offered pursuant to the listed issuer financing exemption under National Instrument 45-106 (Part 5A) in Canada (except Quebec) and private placement exemptions in the US and other jurisdictions.
• Hold Period: No statutory hold period applies to the common shares issued under the listed issuer financing exemption.
• Closing Date: Expected on or about January 20, 2026, subject to regulatory approvals including TSX Venture Exchange acceptance.
• Project Context (Haib Copper Project):
  • Location: Southern Namibia.
  • Status: Advanced (Preliminary Economic Assessment stage) copper/molybdenum porphyry deposit.
  • Mineral Resource (Indicated): 414 million tonnes at 0.35% Cu for 1,459 Mt of contained copper.
  • Mineral Resource (Inferred): 345 million tonnes at 0.33% Cu for 1,136 Mt of contained copper.
  • Cut-off: 0.25% copper.
  • History: Over 80,000 metres of drilling since the 1970s; previous operators include Falconbridge, Rio Tinto, and Teck.

Notable Quotes

• No direct quotes from the CEO or President were included in the provided text.