Koryx Copper Inc., a Canadian mineral exploration and development company with significant operations across southern Africa, has announced an upsizing of its previously planned public offering from CAD 7.3 million to CAD 12.7 million. This development follows robust investor demand for the offering, prompting the company to renegotiate terms with the lead underwriter and sole bookrunner, Stifel Nicolaus Canada Inc.
The amended agreement, disclosed by the company on 10 July 2025, now allows for the sale of 16,563,200 common shares at a price that will generate approximately CAD 12.7 million in gross proceeds. This is a substantial increase from the original arrangement signed with Stifel Nicolaus, under which the syndicate of underwriters had agreed to purchase 9,524,000 common shares for total gross proceeds of about CAD 7.3 million.
According to the company, net proceeds from the offering will be primarily allocated to advance technical studies and ongoing exploration activities at Koryx’s flagship Haib Copper Project in southern Namibia. Funds will also be used for working capital and other general corporate purposes. The closing of the offering is anticipated to occur on or around 30 July 2025, subject to customary regulatory approvals and closing conditions.
The Haib Copper Project, wholly owned by Koryx, is described by the firm as one of the oldest and most well-studied porphyry copper deposits in southern Africa. Located near the Orange River in the Karas Region of Namibia, Haib is characterised as a large copper-molybdenum system that has been explored and evaluated by several mining entities since the 1960s. Among the past operators is the global mining conglomerate Rio Tinto, lending further geological credibility to the asset.
In addition to its Namibian holdings, Koryx also maintains a 51% interest in two copper exploration licences located in Zambia’s prolific Copperbelt region, known for being one of the world’s largest copper-producing areas. These licences offer prospective targets for further exploration and represent a strategic foothold for the company in one of Africa’s most geologically endowed jurisdictions.
Koryx Copper is listed on the TSX Venture Exchange under the ticker symbol “KRY”. The increased demand for the company’s shares is reflective of renewed investor interest in base metals, particularly copper, driven by expectations of long-term structural demand from green energy infrastructure and electric vehicles.
This transaction not only strengthens Koryx’s capital position but also signals confidence from institutional investors in the company’s southern African copper portfolio. It further underscores the growing relevance of Namibia and Zambia as critical sources of strategic minerals required for global energy transitions.
