Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF) has announced a non-brokered private placement to raise between C$2 million and C$6.88 million through the sale of up to 22.94 million units priced at C$0.30 each.
Each unit includes one common share and one-half of a common share purchase warrant, with each full warrant allowing the purchase of an additional share at C$0.45 for two years.
The proceeds from the offering will support Gunnison's High Value Work Program, which includes drilling and metallurgical testing for the Gunnison copper project's pre-feasibility study.
This follows a recent non-dilutive US$3 million funding transaction with Nuton.
If the minimum offering is achieved, Gunnison will secure a total of C$6.29 million in funding to support 12 months of planned activities. The maximum offering would provide C$11.17 million, enabling expanded work programs.