Koryx Copper Brings Namibian Investors into Haib Project Through Targeted Sidecar Financing
Koryx Copper Raises C$5m Sidecar Placement to Expand Namibian Ownership of Haib Copper Project
Koryx Copper has deliberately structured its latest capital raising to enable Namibian investors to take a direct ownership position in the Haib Copper Project, using a targeted sidecar placement alongside its recently completed C$46 million bought-deal financing.
The company announced that it has closed a C$5 million (approximately N$68 million) non-brokered sidecar private placement, which was taken up predominantly by Namibian institutional and retail investors.
Shares under the sidecar placement were issued at C$2.45 each, on the same terms as the larger bought deal announced on 6 January 2026 and closed on 20 January.
This structure ensured that Namibian investors entered Koryx’s share register at the same price and on the same conditions as international institutional investors.
The bought-deal financing, which raised C$46 million (around N$630 million), provides the primary funding base for the next phase of technical and exploration work at the Haib Copper Project in southern Namibia.
The sidecar placement was structured as a parallel transaction, allowing local investors to participate alongside offshore funds without reopening pricing or changing the terms of the main financing.
Sidecar placements are commonly used in mining finance to facilitate targeted participation alongside large capital raisings.
Through this structure, Namibian investors gained direct exposure to one of the country’s most advanced undeveloped copper assets on equal commercial terms with global capital providers. Under the sidecar placement, Koryx issued a total of 2,040,816 new common shares.
In connection with the transaction, the company paid finder’s fees of C$150,000 (approximately N$2.0 million) to Cirrus Capital (Pty) Ltd.
All shares issued under the placement 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 financing and the sidecar placement will be used to advance technical studies at the Haib Copper Project, continue exploration across the property, and provide working capital and general corporate funding.
Haib is a large copper-molybdenum porphyry deposit that has been explored intermittently for more than 60 years but has yet to be developed into a producing mine.
The project is 100% owned by Koryx and is currently at the advanced preliminary economic assessment stage, supported by extensive historical drilling, metallurgical testing, and technical studies.
The current mineral resource at Haib includes 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.
In addition, 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 grade.
Koryx is advancing work to demonstrate Haib’s potential as a long-life, low-cost, open-pit sulphide flotation copper operation, with additional upside from potential heap leach copper production.
The deposit is one of only a small number of known Paleoproterozoic porphyry copper systems globally and one of just two identified in southern Africa, both located in Namibia.
In parallel with Haib, Koryx is also building a portfolio of copper exploration licences in Zambia, positioning the company as a focused southern African copper developer at a time when global copper demand is being driven by electrification, renewable energy expansion, and electric vehicle adoption.
