Koryx Copper Inc. Raises $17 Million to Advance Haib Copper Project

Koryx Copper Inc. Secures $17 Million to Propel Haib Copper Project Forward

Koryx Copper Inc. has recently announced an upsized bought deal public offering, increasing its total to $17 million in response to strong investor demand. This strategic decision, confirmed on July 10, 2025, emphasizes Koryx's commitment to advancing its flagship Haib Copper Project in Namibia, which boasts significant mineral resources estimated at 414 million tons at 0.35% copper in the Indicated category and 345 million tons at 0.33% copper in the Inferred category. With Stifel Nicolaus Canada Inc. as the lead underwriter, Koryx plans to issue 16,563,200 common shares at a price of C$1.05 each, yielding gross proceeds of approximately C$17.39 million. The offering also includes an Over-Allotment Option that permits underwriters to purchase an additional 15% of the shares sold to stabilize the market.

The company intends to allocate the net proceeds from this offering towards advancing technical studies and continuing exploration activities at the Haib Copper Project, alongside general corporate purposes. This proactive capital raise reflects Koryx Copper's strategic focus on enhancing its operational capabilities while positioning itself favorably in the competitive mining sector. As Koryx prepares for the expected closing date of July 30, 2025, pending approvals from the TSX Venture Exchange, it anticipates that the influx of capital will allow for a more aggressive exploration and development strategy, crucial for unlocking the project's full potential.

Koryx Copper's decision to augment its public offering signals strong confidence in its ability to attract investor interest, bolstered by the company's solid performance and growth potential within the copper industry. This upsizing not only strengthens Koryx's financial position but also underscores its commitment to maximizing shareholder value while navigating the complexities of the market. With a history of over 80,000 meters of exploration at the Haib site, the company is well-positioned to leverage this funding to enhance its resource base and drive future growth.

In addition to the funding announcement, Koryx Copper's ongoing focus on the Haib project highlights the growing demand for copper, driven by global shifts towards renewable energy and electric vehicles. This context underscores the strategic importance of Koryx's initiatives and reflects the broader trends within the mining industry, where resource development remains critical to meeting future energy needs.