Gunnison Copper Corp. (TSX: GCU) completed its bought deal public offering, selling 82,144,500 common shares at C$0.42 per share for gross proceeds of approximately C$34.5 million, the company announced.

The offering included the full exercise of an over-allotment option for 10,714,500 shares. Canaccord Genuity Corp. served as sole bookrunner, leading a syndicate that included Paradigm Capital Inc., Ventum Financial Corp., and CIBC Capital Markets.

The company plans to use net proceeds to advance its Gunnison Copper Project in Arizona, along with working capital and general corporate purposes.

The offering was conducted across Canadian provinces except Quebec through a prospectus supplement, and in the United States through private placement to qualified institutional buyers under exemptions from Securities Act registration requirements. The shares were also offered in other jurisdictions outside Canada and the U.S. through private placements.

The offering remains subject to final approval from the Toronto Stock Exchange.

Gunnison Copper controls the Cochise Mining District in Arizona's Southern Copper Belt, which contains 12 known deposits within an 8-kilometer radius. The company describes itself as a multi-asset copper developer and producer.