Koryx Copper Announces $25 Million Bought Deal Financing
KORYX COPPER ANNOUNCES $25 MILLION
BOUGHT DEAL FINANCING
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES
/
VANCOUVER, BC
,
Jan. 6, 2026
/CNW/ -
Koryx Copper Inc.
(TSXV: KRY) ("
Koryx"
or
the
"Company
") is pleased to announce that it has entered into an agreement with Stifel Canada
pursuant to which Stifel Canada will act as sole bookrunner, together with a syndicate of
underwriters (collectively, the "
Underwriters
"), in connection with a "bought deal" private placement
offering of 10,205,000 common shares of the Company (the "
Common Shares
") at a price of
C$2.45
per Common Share (the "
Issue Price
") for aggregate gross proceeds of
C$25,002,250
(the
"
Offering
"), with the Common Shares to be offered and sold pursuant to the Listed Issuer Financing
Exemption (as defined herein).
The Company has granted the Underwriters an option (the "
Underwriters' Option
") to purchase (or
arrange for substituted purchasers to purchase) up to an additional 1,530,750 Common Shares at
the Issue Price on the same terms and conditions as the Offering. The Underwriters' Option will be
exercisable, in whole or in part, at any time up until 48 hours prior to the closing of the Offering.
The Company intends to use the net proceeds to advance technical studies on the Haib Copper
Project and continue exploration on the property, working capital and general corporate
purposes. Subject to compliance with applicable regulatory requirements and in accordance with
National Instrument 45-106 -
Prospectus Exemptions
("
NI 45-106
"), the Common Shares will be
offered for sale to purchasers resident in each of the provinces of
Canada
, except
Quebec
, pursuant
to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated
Blanket Order 45-935 –
Exemptions from Certain Conditions of the Listed Issuer Financing
Exemption
(the "
Listed Issuer Financing Exemption
"). As the Offering is being completed
pursuant to the Listed Issuer Financing Exemption, the Common Shares issued pursuant to the
Offering will not be subject to a statutory hold period pursuant to applicable Canadian securities
laws. The Common Shares may also be offered in
the United States
or to, or for the account or
benefit of, U.S. persons, by way of private placement pursuant to exemptions from the registration
requirements of the United States Securities Act of 1933, as amended (the "
U.S. Securities Act
"),
and in jurisdictions outside of
Canada
and
the United States
on a private placement or equivalent
basis, in each case in accordance with all applicable laws, provided that no prospectus, registration
statement or other similar document is required to be filed in such jurisdiction.
There is an offering document (the "
Offering Document
") related to the Offering that can be
accessed under the Company's issuer profile on SEDAR+ at
www.sedarplus.ca
and on the
Company's website at
www.koryxcopper.com
. Prospective investors should read the Offering
Document before making an investment decision.
The Offering is expected to close on or about
January 20, 2026
, and is subject to certain conditions
including, but not limited to, the receipt of all necessary approvals, including the acceptance of the
TSX Venture Exchange.
A cash commission equal to 6% on the gross proceeds of the Offering and compensation warrants
(the "
Compensation Warrants
") equal to 3% of the number of Common Shares of the Company
sold under the Offering shall be paid to the Underwriters, subject to the policies of the TSX Venture
Exchange and applicable securities laws. Each Compensation Warrant entitles the holder to acquire
a common share of the company at a price equal to
C$2.45
for a period of 24 months from the date
of issue thereof.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall
there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful, including any of the securities in
the United States
. The securities described
herein have not been, and will not be, registered under the U.S. Securities Act or any state securities
laws and may not be offered or sold within
the United States
or to, or for account or benefit of, U.S.
Persons (as defined in Regulation S under the 1933 Act) unless registered under the U.S. Securities
Act and applicable state securities laws, or an exemption from such registration requirements is
available.
About Koryx Copper Inc.
Koryx Copper Inc. is a Canadian copper development Company focused on advancing the 100%
owned Haib Copper Project in
Namibia
whilst also progressing its two copper exploration licenses on
the Zambian copper belt. Haib is a large, advanced (PEA-stage) copper/molybdenum porphyry
deposit in southern
Namibia
with a long history of exploration and project development by multiple
operators. More than
80,000m
of drilling has been conducted at Haib since the 1970's with
significant exploration programs led by companies including
Falconbridge
(1964), Rio Tinto (1975)
and Teck (2014). Extensive metallurgical testing and various technical studies have also been
completed at Haib to date.
Additional studies are underway aiming to demonstrate Haib as a future long-life, low-cost, low-risk
open pit, sulphide flotation copper project with the potential for additional copper production from
heap leaching. Haib has a current mineral resource of
414Mt
@ 0.35% Cu for 1,
459Mt
of contained
copper in the Indicated category and
345Mt
@ 0.33% Cu for
1136Mt
of contained copper in the
Inferred category (0.25% Cu cut-off).
Mineralization at Haib is typical of a porphyry copper deposit and it is one of only a few examples of
a Paleoproterozoic porphyry copper deposit in the world and one of only two in southern
Africa
(both
in
Namibia
). Due to its age, the deposit has been subjected to multiple metamorphic and deformation
events but still retains many of the classic mineralization and alteration features typical of these
deposits. The mineralization is dominantly chalcopyrite with minor bornite and chalcocite present and
only minor secondary copper minerals at surface due to the arid environment.
Further details of the Haib Copper Project are available in the corresponding technical report titled,
"NI 43-101 Technical Report –
August 2024
Mineral Resource Estimate for the Haib Copper Project,
Namibia
" dated effective
August 31, 2024
(the "
Technical Report
"). The Technical Report and other
information is available on the Company's website at
https://koryxcopper.com
and under the
Company's profile on SEDAR+ at
www.sedarplus.ca
.
More information is available by contacting the Company:
ON BEHALF OF THE BOARD OF DIRECTORS
"Heye Daun"
, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release
.
Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation. Forward-looking information includes, without limitation, statements regarding
the Offering, the intended use of proceeds of the Offering, the Company's ability to complete the
Offering on the terms announcing, the timing for completing the Offering, the Company's ability to
obtain all necessary approvals, including the conditional approval of the TSX Venture Exchange,
timing for completion of the Company's intended preliminary economic assessment (the "PEA") of its
Haib Copper Project and the potential projected or processing design capacity for annual copper
concentrate production at its Haib Copper Project and the future or prospects of the Company.
Generally, forward-looking information can be identified by the use of forward-looking terminology
such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Forward looking statements are necessarily based upon a
number of assumptions that, while considered reasonable by management, are inherently subject to
business, market, and economic risks, uncertainties, and contingencies that may cause actual
results, performance, or achievements to be materially different from those expressed or implied by
forward-looking statements. Although the Company has attempted to identify important factors that
could cause actual results to differ materially from those contained in forward-looking information,
other factors may cause results not to be as anticipated, estimated, or intended. There can be no
assurance that such information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking information. Other factors which could materially affect such
forward-looking information are described in the risk factors in the Company's most recent annual
management discussion and analysis. The Company does not undertake to update any forward-
looking information, except in accordance with applicable securities laws.
SOURCE
Koryx Copper Inc.
View original content:
http://www.newswire.ca/en/releases/archive/January2026/06/c2050.html
%SEDAR: 00005247E
For further information:
Julia Becker, Corporate Communications, [email protected], +1-
604-785-0850
CO: Koryx Copper Inc.
CNW 17:51e 06-JAN-26