Koryx closes private placement
TSX-V-listed Koryx Copper has closed its previously announced sidecar non-brokered private placement offering to predominantly Namibian institutional and retail investors for aggregate gross proceeds of C$5-million.
The terms are consistent with the C$46-million bought deal financing announced on January 6 and closed on January 20.
Koryx paid finder’s fees of C$150 000 to Cirrus Capital in connection with the placement.
The company intends to use the net proceeds of the placement to advance technical studies on the Haib copper project, in Namibia, and continue exploration on the property, working capital and for general corporate purposes.
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