Canadian mining company Koryx Copper has raised $9.67 million through the first tranche of a non-brokered private placement, securing funds for its copper projects in Namibia and Zambia.
The company sold nearly nine million shares at $1.10 each, with proceeds directed towards advancing the Haib Copper Project in Namibia’s Kharas region and the Luanshya West Project in Zambia. Koryx plans to raise up to $17 million, with the second tranche already fully subscribed and set to close soon. All issued shares are subject to a four-month hold, and a cash finder’s fee of $67,000 was paid on a portion of the funds.
The company remains dedicated to advancing its Haib Copper Project, a copper/molybdenum porphyry deposit in southern Namibia, which has been the focus of extensive exploration since the 1970s, with over 70,000 meters of drilling completed by previous operators.
