Koryx Copper has deliberately structured its latest capital raise to bring Namibian investors directly into the ownership of the Haib Copper Project, using a sidecar placement that builds on its recently completed C$46 million bought-deal financing.
The company said it has closed a C$5 million, or about N$68 million, non-brokered sidecar private placement taken up predominantly by Namibian institutional and retail investors.
The shares were issued at C$2.45 each, on identical terms to the larger bought deal announced on 6 January 2026 and closed on 20 January, ensuring local investors entered the register at the same price as international institutions.
The bought deal, which raised C$46 million, or roughly N$630 million, provided the core funding platform for Koryx’s next phase of work at Haib.
The subsequent sidecar placement was structured as a parallel transaction, allowing Namibian investors to participate alongside offshore funds without reopening pricing or altering terms.
Sidecar placements are commonly used in mining finance to run a smaller, targeted capital raise alongside a major transaction.
In this case, the structure enabled Namibian investors to gain direct exposure to one of the country’s most advanced undeveloped copper assets on the same commercial footing as global capital.
Under the sidecar, Koryx issued 2,040,816 new common shares.
The company paid finder’s fees of C$150,000, equivalent to about N$2.0 million, to Cirrus Capital (Pty) Ltd in connection with the placement.
All shares issued are subject to a statutory hold period of four months and one day from the date of issuance, and the transaction remains subject to final approval by the TSX Venture Exchange.
Proceeds from both the bought deal and the sidecar placement will be used to advance technical studies at the Haib Copper Project in southern Namibia, continue exploration across the property, and support working capital and general corporate purposes.
Haib is a large copper-molybdenum porphyry deposit that has been intermittently explored for more than 6 decades but has yet to be developed into a producing mine.
The project is 100% owned by Koryx and sits at the advanced preliminary economic assessment stage, underpinned by extensive historical drilling, metallurgical testing and technical studies.
The current mineral resource at Haib comprises 511 million tonnes grading 0.33% copper and 51 parts per million molybdenum in the Indicated category, containing approximately 1.67 million tonnes of copper and 25,900 tonnes of molybdenum.
A further 308.9 million tonnes grading 0.31% copper and 40 parts per million molybdenum are classified as Inferred, containing about 949,000 tonnes of copper and 12,400 tonnes of molybdenum, based on a 0.15% copper cut-off.
Koryx is now working to demonstrate Haib as a long-life, low-cost, open-pit sulphide flotation copper operation, with potential for additional copper production through heap leaching.
The deposit is one of only a handful of known Paleoproterozoic porphyry copper systems globally and one of just two identified in southern Africa, both located in Namibia.
Alongside Haib, the company is building a portfolio of copper exploration licences in Zambia, positioning itself as a focused southern African copper developer at a time when global demand for the metal is being driven by electrification, renewable energy infrastructure and electric vehicle adoption.
