Koryx Copper arranges $25-million financing

Executive Summary

• Koryx Copper Inc. has entered into a $25 million bought deal private placement financing agreement with Stifel Canada as sole bookrunner.
• The company is issuing 10,205,000 common shares at $2.45 per share, with an over-allotment option for up to 1,530,750 additional shares.
• Net proceeds will be used to advance technical studies on the Haib copper project, continue exploration, and for working capital and general corporate purposes.

Key Details

• Transaction Structure: Bought deal private placement offering.
• Underwriter: Stifel Canada (sole bookrunner) and a syndicate of underwriters.
• Shares Issued: 10,205,000 common shares.
• Issue Price: $2.45 per common share.
• Gross Proceeds: $25,002,250.
• Over-Allotment Option: Underwriters have an option to purchase up to 1,530,750 additional common shares at $2.45 per share, exercisable up to 48 hours prior to closing.
• Use of Proceeds: Advancing technical studies on the Haib copper project, continuing exploration on the property, working capital, and general corporate purposes.
• Regulatory Exemption: Offered pursuant to the listed issuer financing exemption under National Instrument 45-106 (Part 5A). No statutory hold period applies.
• Closing Date: Expected on or about January 20, 2026, subject to conditions including TSX Venture Exchange acceptance.
• Underwriter Compensation:
  • Cash commission: 6% of gross proceeds.
  • Compensation warrants: Equal to 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.
• Project Context (Haib Copper Project):
  • Location: Southern Namibia.
  • Status: Advanced (PEA-stage) copper/molybdenum porphyry deposit.
  • Mineral Resource (Indicated): 414 million tonnes at 0.35% Cu for 1,459 million tonnes of contained copper.
  • Mineral Resource (Inferred): 345 million tonnes at 0.33% Cu for 1,136 million tonnes of contained copper.
  • Cut-off: 0.25% Cu.

Notable Quotes

• None provided in the text.