Koryx Copper Secures Financing for Expansion of Haib Project
Koryx Copper Unveils Major Financing Initiative
Koryx Copper Inc. (“Koryx” or the “Company”) (TSX-V: KRY) has recently filed a final short form prospectus to support an exciting financing venture. This effort is part of a strategic move to enhance the investment flow into the Company, amounting to an impressive C$17,391,360. This prospectus is a significant step for Koryx as it looks to further develop its wholly-owned Haib Copper Project in Namibia.
Details of the Offering
The offering encompasses approximately 16,563,200 common shares, with an issue price set at C$1.05 each. Following the completion of the primary offering, Koryx also announced that underwriters have the option to purchase up to an additional 2,484,480 shares, potentially increasing the total proceeds to over C$20 million. These efforts reflect keen interest and confidence from investors towards Koryx’s developments.
Underwriters and Support Team
In orchestrating this offering, Koryx Copper has partnered with Stifel Canada, which serves as the lead underwriter and sole bookrunner for the financing. They are collaborating with a robust syndicate of underwriters, including Beacon Securities Limited, Haywood Securities Inc., and others, demonstrating a strong backing from financial institutions. This well-rounded support is aimed at ensuring the success of the offering.
Prospectus Accessibility and Conditions
The final prospectus can be accessed readily through the Company's issuer profile on SEDAR+. Prospective investors are encouraged to review the intricacies of the prospectus thoroughly before making any investment decisions. Furthermore, the offering's success hinges on certain conditions, particularly the approval from the TSX Venture Exchange, which Koryx has already secured.
About Koryx Copper Inc.
Koryx Copper Inc. is paving the way in copper development, focusing on the advancement of its Haib Copper Project in Namibia while also exploring two promising copper exploration licenses in Zambia. The Haib project, a significant copper/molybdenum porphyry deposit, showcases a rich history of exploration, dating back to the 1970s, with substantial contributions from various industry giants over the decades.
Haib Copper Project Overview
The Haib Copper Project highlights an impressive mineral resource, estimated at 414 million tonnes grading 0.35% copper, along with significant inferred resources. Koryx aims to position Haib as a future long-term copper production facility, emphasizing sustainable and cost-effective production methods, including innovative heap leaching strategies.
Current Developments and Future Prospects
With ongoing technical studies and exploration activities, Koryx is well on its path to demonstrating the viability of the Haib project. The Company envisions transforming Haib into a low-cost, low-risk copper extraction operation, enhancing local and global copper supply capabilities.
Community and Investor Engagement
Koryx Copper Inc. is committed to maintaining transparency and open communication with its stakeholders. The Company actively engages with the communities in which it operates, aiming for mutually beneficial relationships and sustainable development practices. Investors can reach out for more information and inquiries through company representatives to stay updated on project advancements and investment opportunities.
Frequently Asked Questions
What is the primary focus of Koryx Copper Inc.?
Koryx Copper Inc. primarily focuses on developing its Haib Copper Project in Namibia and expanding its exploration activities in Zambia.
How much has Koryx Copper raised from the recent financing?
The recent financing initiative raised approximately C$17.4 million, aiding in the advancement of the Haib project.
Who are the underwriters for the offering?
Stifel Canada is the lead underwriter, supported by various other firms, indicating a solid backing for Koryx’s financing efforts.
What is the estimated mineral resource at the Haib Copper Project?
The current resource at Haib is approximately 414 million tonnes at 0.35% copper, with additional inferred resources enhancing its potential.
How can investors obtain the prospectus?
Investors can access the prospectus through SEDAR+ or request a copy from Stifel Canada via email.
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