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Koryx Copper Corp., a TSX-V-listed miner, has successfully closed a public offering and a private placement, raising a combined C$25 million to fund the development of its Haib copper project in Namibia. The capital infusion is a significant step for the company as it seeks to accelerate technical studies and exploration at the promising copper deposit.
The public offering, a bought deal led by Stifel Canada, saw the company sell 19.05 million common shares at C1.05pershare,generatingC20 million. The underwriters, including Beacon Securities, Haywood Securities, and BMO Capital Markets, fully exercised their over-allotment option.
In a concurrent non-brokered private placement, Koryx sold an additional 4.76 million common shares at the same price, raising approximately C$5 million.
“We are delighted with the continued support received from our longstanding shareholders… and a number of European and North American financial institutions who have invested with us repeatedly over the years,” said Koryx CEO Heye Daun. He also highlighted the strong interest from Namibian investors, who contributed more than 40% of the financing, calling it a “strong vote of confidence” in the company’s strategy.
The proceeds will be used to optimize development plans for the Haib deposit, with a focus on advancing a preliminary economic assessment and a prefeasibility study. The funds will also be allocated to working capital and general corporate purposes. The capital raise positions Koryx to move rapidly toward key milestones in the coming months, as it aims to unlock significant value from the Haib project.
