Gunnison Copper Corp. (TSX: GCU) announced a bought deal public offering to raise C$30 million through the sale of 71.43 million common shares at C$0.42 per share.

The company entered into an agreement with Canaccord Genuity Corp. as sole bookrunner and a syndicate of underwriters for the offering. The underwriters also received an over-allotment option to purchase up to 10.71 million additional shares at the same price, potentially raising an additional C$4.5 million.

Gunnison stated it intends to use the net proceeds to advance its Gunnison Copper Project in Arizona, along with working capital and general corporate purposes. The company operates in the Cochise Mining District, which contains 12 known deposits within an 8-kilometer radius in the Southern Arizona Copper Belt.

The offering is expected to close on or about June 3, 2026, subject to regulatory approvals including approval from the Toronto Stock Exchange and securities regulatory authorities. The shares will be offered in all Canadian provinces except Quebec through a prospectus supplement to the company's base shelf prospectus dated May 19, 2026.

The securities may also be sold in certain offshore jurisdictions and through private placement in the United States under exemptions from U.S. Securities Act registration requirements. The prospectus documents will be available on SEDAR+ within two business days.

The securities have not been registered under the U.S. Securities Act and may not be offered or sold in the United States without registration or an applicable exemption.