Koryx Copper Announces Closing of C$5 Million Sidecar Namibian Non-Brokered Private Placement for Total Financing of C$51 Million

Core Viewpoint - Koryx Copper Inc. has successfully closed a non-brokered private placement offering, raising C$5,000,000 through the issuance of 2,040,816 common shares at a price of C$2.45 per share, primarily from Namibian investors [1][2]. Group 1: Financial Details - The private placement offering generated aggregate gross proceeds of C$5,000,000 [1]. - Finder's fees of C$150,000 were paid to Cirrus Capital (Pty) Ltd in connection with the placement [2]. - The net proceeds will be utilized for advancing technical studies on the Haib Copper Project, exploration activities, working capital, and general corporate purposes [2]. Group 2: Project Overview - Koryx Copper Inc. is focused on advancing the Haib Copper Project in Namibia, which is a 100% owned asset [5]. - The Haib Copper Project is characterized as a large, advanced copper/molybdenum porphyry deposit with a significant history of exploration and development [5][6]. - Current mineral resources at Haib include 511 million tonnes at 0.33% copper and 51 parts per million molybdenum in the Indicated category, and 308.9 million tonnes at 0.31% copper and 40 parts per million molybdenum in the Inferred category [6][7]. Group 3: Regulatory and Compliance - The placement remains subject to final approval from the TSX Venture Exchange [3]. - All common shares issued under the placement will be subject to a hold period of four months and a day from the date of issuance [2].