Boughton Law Advises Koryx Copper Inc. in $25 Million Equity Financing

Koryx Copper Inc. (“Koryx Copper”), a Vancouver-based copper development company, has successfully completed a $25 million equity financing to support the advancement of its flagship Haib copper project in southern Namibia. The financing further strengthens Koryx Copper’s position as it works to develop one of the world’s oldest and most significant porphyry copper deposits.

Boughton Law Corporation acted as Canadian legal counsel to Koryx Copper, advising on both the bought deal public offering and the concurrent non-brokered private placement. The offering was led by Stifel Canada as lead underwriter and sole bookrunner, with support from a syndicate of underwriters including BMO Capital Markets, Beacon Securities, Haywood Securities, Research Capital Corporation, Red Cloud Securities, and Ventum Financial Corp.

The financing included the issuance of 19,047,680 common shares at a price of $1.05 per share for gross proceeds of $20 million through the bought deal offering, and an additional 4,761,844 common shares through the private placement for approximately $5 million.

Proceeds from the financing will be used to accelerate technical studies and development planning for the Haib Copper Project, with additional funds allocated to exploration, working capital, and general corporate purposes.

Heye Daun, President and CEO of Koryx Copper, acknowledged the continued support from longstanding shareholders and new Namibian investors, who represented more than 40% of the total financing. “With this capital in hand, we are well positioned to fast-track development of the Haib deposit. The strong participation from Namibian institutions is a clear endorsement of our strategy and the project’s potential to deliver long-term, low-cost copper production,” he said.

The Haib Copper Project, located in southern Namibia, is a large, advanced-stage porphyry copper deposit with a long history of exploration and technical study. With over 80,000 metres of drilling completed to date, Haib is being positioned as a future open-pit sulphide flotation project with potential for heap leaching. The project hosts an indicated resource of 414 million tonnes at 0.35% copper and an inferred resource of 345 million tonnes at 0.33% copper, using a 0.25% cut-off grade.

Koryx Copper is focused on advancing large-scale copper assets across Africa, with a portfolio that includes 100%-owned projects in Namibia and Zambia.
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