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VANCOUVER, British Columbia, June 11, 2024 (GLOBE NEWSWIRE) -- Koryx Copper Inc. (“Koryx” or the "Company") (TSX-V: KRY) further to the Company’s news release on May 22, 2024, the Company announces it received approval of the TSX Venture Exchange (the “Exchange”) for the consolidation of the Company’s issued and outstanding common shares on the basis of one (1) new common shares for every five (5) existing common shares (the “Consolidation”). The Consolidation is effective as at the opening of the market on June 14, 2024.

The Company’s name and trading symbol remain unchanged following the Consolidation. The new CUSIP number will be 50067J202 and the new ISIN number will be CA50067J2020 for the post-Consolidation common shares. The Company has 231,668,716 pre-Consolidation common shares issued and outstanding (including the Shares issued under the Offering), and after the Consolidation there are approximately 46,333,743. post-Consolidation common shares issued and outstanding (excluding the Common shares issued under an offering of common shares that is expected to close on June 13, 2024).

No fractional post-Consolidation common shares will be issued as a result of the Consolidation. Shareholders who would otherwise be entitled to receive a fraction of a post-Consolidation common share will be rounded up to the nearest whole number and no cash consideration will be paid in respect of fractional shares. The exercise price and number of common shares of the Company, issuable upon exercise of any outstanding convertible securities will be proportionately adjusted pursuant to the Consolidation.

A letter of transmittal from the Company’s transfer agent, Computershare Trust Company of Canada, will be sent to registered shareholders. Shareholders who hold their common shares in brokerages accounts are not required to take action to effect an exchange of their common shares for post-Consolidation common shares.

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

ON BEHALF OF THE BOARD OF DIRECTORS

Per: “Pierre Léveillé”

Pierre Léveillé
President & CEO

More information is available by contacting Pierre Léveillé, President & CEO at +1-819-340-0140 or at: info@koryxcopper.com