Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF) has closed its previously announced non-brokered private placement, raising gross proceeds of C$8.66 million through the sale of 28.87 million units priced at C$0.30 each.
Each unit in the offering comprises one share and one common share purchase warrant, with each warrant exercisable at C$0.45 until July 2028.
Gunnison Copper intends to use the net proceeds to advance its High Value Add Work Program at the Gunnison Copper Project in Arizona.
The funds will also support long-lead drilling and metallurgical testing work that will feed into a pre-feasibility study.
Additionally, the company plans to cover US head office general and administrative expenses from April 2026 through March 2027 using proceeds from the offering, while general and administrative (G&A) expenses through March 2026 will be covered by existing capital.
The financing was conducted under the Listed Issuer Financing Exemption (LIFE) in accordance with Canadian securities regulations.