Koryx Copper Announces Closing of $25 Million Financing

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Not for distribution to United States newswire services or for dissemination in the United States

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VANCOUVER, British Columbia, July 31, 2025 (GLOBE NEWSWIRE) — Koryx Copper Inc. (the “Company”) (TSX-V: KRY) is pleased to announce that it has closed (i) its previously announced bought deal public offering (The “Offering”) of an aggregate 19,047,680 common shares of the Company (the “Common Shares”) at a price of C$1.05 per Common Share (the “Issue Price”) for aggregate gross proceeds to the Company of C$20,000,064, inclusive of the exercise in full of the over-allotment option granted to the Underwriters (defined herein) (the “Offering”), and (ii) closed a concurrent non-brokered private placement (the “Placement”) of an aggregate 4,761,844 Common Shares also at the Issue Price for total gross proceeds of approximately C$5,000,000.

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The Offering was led by Stifel Canada, as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters that includes Beacon Securities Limited, Haywood Securities Inc., Research Capital Corporation, BMO Capital Markets, Red Cloud Securities Inc. and Ventum Financial Corp. (collectively, the “Underwriters”).

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Heye Daun, Koryx Copper’s President and CEO commented: “We are delighted  with the continued  support received from our longstanding shareholders, especially Ross Beaty,  and a number of European and North American financial institutions who have invested with us repeatedly over the years. In addition, the Koryx executive team followed my significant investment, into this financing. 

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We are also very grateful for the very strong interest shown by Namibian institutional and private investors who made up more than 40% of this financing. This is a very strong vote of confidence from Namibian investors who are playing an increasingly important part in the evolving shareholder base of Koryx Copper and who have endorsed our strategy for the fast-tracked development of the world-class, long-life and low-cost Haib copper deposit in the south of Namibia.

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With this capital in hand, we are well positioned to accelerate technical work, optimize our development plans, and unlock significant value. We are excited for the months ahead as we move rapidly toward key milestones, including the optimization and right-sizing of Haib as we advance toward our PEA and PFS. The momentum is building, and I look forward to sharing our continued progress.”

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The Common Shares issued under the Offering were offered by way of a short form prospectus dated July 29, 2025 filed in each of the provinces and territories of Canada, except Québec, and offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and in those jurisdictions outside of Canada and the United States as agreed to by the Company and the Underwriters, in each case in accordance with all applicable laws and provided that no prospectus, registration or other similar document is required to be filed in those jurisdictions.

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The Company intends to use the net proceeds of both the Offering and Placement to advance technical studies on the Haib Copper Project and continue exploration on the property, working capital and general corporate purposes.