Gunnison Copper Corp. Secures C$5 Million Funding for Project Advancements and Growth
- Gunnison Copper Corp. is raising C$5,000,010 through a private placement to advance the Gunnison Copper Project.
- Funds will support drilling, metallurgical testing, and administrative expenses for the project’s pre-feasibility study.
- The company aims to enhance production capabilities and meet growing global copper demand through strategic initiatives.
Gunnison Copper Corp. Secures Funding for Strategic Project Advancements
Gunnison Copper Corp. takes a significant step forward with its announcement of a non-brokered private placement, aiming to raise C$5,000,010. The company plans to sell up to 16,666,700 units at a price of C$0.30 per unit, with each unit comprising one common share and a warrant to purchase an additional share at C$0.45 for 36 months. The funds raised from this placement are earmarked primarily for the High Value Add Work Program at the Gunnison Copper Project. This initiative underscores the company’s commitment to advancing its operational capabilities and enhancing the overall value of its flagship project.
The Gunnison Copper Project, located in the Southern Arizona Copper Belt, boasts a substantial measured and indicated resource of over 831 million tons with a total copper grade of 0.31%. The capital acquired through this private placement will facilitate long lead time drilling and metallurgical testing necessary for a pre-feasibility study, which is crucial for evaluating the project's economic viability. Additionally, the funding will ensure that general administrative expenses for the company’s US head office are covered for the next 12 months, allowing for a stable operational foundation during this critical phase of development.
The offering is set to close during the week of July 14, 2025, pending regulatory approvals. It is accessible to Canadian purchasers, excluding those in Québec, under the Listed Issuer Financing Exemption, and to offshore and US investors under specific exemptions. This funding strategy not only reflects Gunnison Copper's proactive approach to capital management but also emphasizes its ambition to leverage its substantial copper resources to meet growing global demand.
In tandem with the Gunnison Copper Project, the company is also advancing the Johnson Camp Asset, which is currently under construction and funded by Nuton LLC. This asset is poised to produce up to 25 million pounds of finished copper annually, further enhancing Gunnison Copper's production capabilities and market presence.
Gunnison Copper Corp.'s strategic funding and project development initiatives position it well within the competitive landscape of the copper mining industry, as it seeks to capitalize on the increasing demand for copper in various sectors, particularly in renewable energy and electric vehicles.
