Boughton Law Advises Koryx Copper on $18 Million Equity Financing

Koryx Copper Ltd. (“Koryx”), a Vancouver-headquartered copper development company, has successfully raised CAD 18 million (USD 12.8 million) in equity financing to advance its flagship Haib copper project in Namibia. This financing underscores the company’s growth trajectory and its commitment to developing world-class copper assets in Africa.

Boughton Law Corporation acted as Canadian legal counsel to Koryx Copper, providing guidance on the non-brokered private placement. The financing, completed in three tranches, raised a cumulative total of CAD 17,969,355.60 (USD 12.8 million) through the issuance of 16,335,778 common shares at CAD 1.10 per share. The first two tranches raised CAD 14.87 million, with the final tranche adding CAD 3.1 million in November 2024.

The net proceeds will be used to advance the Haib copper project, one of Africa’s largest copper porphyry deposits, and to further develop the Luanshya West project in Zambia’s prolific copper belt. Additional funds will address general working capital requirements.

Heye Daun, Executive Chairman of Koryx, expressed appreciation for the company’s longstanding supporters, including Ross Beaty, Resource Capital Funds, and other institutional and retail investors. “This is a pivotal moment for Koryx as we drive forward with the Haib project. Our vision is to unlock its full potential as a cornerstone of Namibia’s copper production. With new leadership, a dedicated technical team, and world-class partners, we are focused on delivering transformative outcomes—from enhanced economic assessments to securing key permits and advancing feasibility studies. Together, we aim to position Haib as a model for sustainable and impactful copper development in Africa,” he said.

Founded in 1987, Koryx Copper focuses on the acquisition, exploration, and development of significant mineral properties in Africa. Its portfolio includes 100%-owned assets in Namibia and Zambia, strategically positioned in regions critical to global copper production.

For inquiries about Boughton Law’s securities and capital markets practice, please contact Sean P. O’Neill or our securities department at Boughton Law Corporation.