Gunnison Copper raises C$13.1 million in private placement

Gunnison Copper Corp. (TSX: GCU) completed a private placement financing that raised gross proceeds of C$13,112,270.10 through the issuance of 29,138,378 units.

The financing consisted of two offerings: a LIFE offering of 24,858,878 units for C$11,186,495.10 and a concurrent 4-month hold offering of 4,279,500 units for C$1,925,775. Each unit was priced at C$0.45 and includes one common share and one-half warrant. The warrants allow holders to purchase common shares at C$0.65 for 36 months from issuance.

The company plans to use proceeds for drilling, metallurgical testing, and permitting activities for a pre-feasibility study on the Gunnison Copper Project. Additional funds will support U.S. head office expenses, partial debt repayment to Nebari, and general working capital.

Securities from the LIFE offering sold to Canadian residents are immediately tradeable under Canadian securities legislation. Hold offering securities are subject to a four-month hold period expiring March 1, 2026.

Red Cloud Securities Inc. and other finders received 6% cash commissions on gross proceeds from introduced subscribers and were issued finder warrants equal to 6% of units sold to those subscribers.

Gunnison Copper operates in Arizona's Southern Copper Belt, controlling the Cochise Mining District with 12 known deposits. The company's Gunnison Copper Project contains measured and indicated mineral resources of 831.6 million tons with 0.31% copper grade. A preliminary economic assessment shows an NPV8% of $1.3 billion and IRR of 20.9%.

The company's Johnson Camp Asset is currently in production with funding from Nuton LLC, a Rio Tinto venture, with capacity for up to 25 million pounds of copper cathode annually.

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