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Koryx Copper Closes Non-Brokered Private Placement and Completes Share Consolidation

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Koryx Copper Closes Non-Brokered Private Placement and Completes Share Consolidation

 

 

 

 

 

Koryx Copper Inc. (TSX-V: KRY) is pleased to announce that it has closed a non-brokered private placement for a total gross proceeds of $1,999,890.96 for the sale of 16,665,758 common shares of the Company at a pre-Consolidation price of $0.12 per Share.

 

All Shares issued under the Offering are subject to a four month hold from the date of issuance. The Company did not pay any finder’s fees and no new control person has been created as a result of the Offering.

 

The net proceeds from the Offering will be used for exploration work on the Company’s Haib Copper project in Namibia, the Luanshya West project in Zambia, and for general working capital purposes.

 

As announced in the Company’s news release on June 11, 2024, the Company is completing a consolidation of its issued and outstanding common shares on the basis of one (1) new common shares for every five (5) existing common shares. The Consolidation became effective as at the opening of the market on June 14, 2024.

 

As a consequence of the Consolidation, subscribers under the Offering receive post-Consolidation Shares at an effective price of $0.60 per post-Consolidation Share.

 

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

 

About Koryx Copper Inc.

 

Koryx is a mineral exploration and development company. Koryx growth strategy is to focus on the exploration and development of quality assets in significant mineralized trends and in proximity to infrastructure in stable countries. The Company holds the Haib Copper Project in Namibia and holds an interest in three exploration licenses in the Copperbelt in Zambia.

 

Posted June 17, 2024

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