02:04 PM EST, 01/07/2026 (MT Newswires) -- (Adds details on the upsizing of the bought-deal financing and updates shares.)

Koryx Copper ( KRYXF ) on Wednesday said it will increase the size of a bought-deal private-placement offering to C$40 million from around C$25 million, with the shares to be offered and sold pursuant to the listed issuer financing exemption.

Underwriters agreed to purchase around 16.3-million shares of the company at a price of C$2.45 each.

The company also granted underwriters an over-allotment option of up to an additional of around 2.4-million shares.

The company plans to use the net proceeds to advance technical studies on the Haib Copper Project and continue exploration on the property, working capital and general corporate purposes.

The offering is expected to close on or about Jan. 20, 2026, and is subject to certain conditions.

The company's shares were last seen down $0.30 to $2.55 on the TSX Venture Exchange.

Price: 2.55, Change: -0.30, Percent Change: -10.53