Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF) announced that it intends to raise gross proceeds of up to C$15 million in a non-brokered, private placement financing by selling up to about 33.33 million company units at a price of C$0.45 per unit.
The multi-asset, pure-play copper developer and producer said it intends to use the net proceeds from the offering for drilling, metallurgical testing and permitting activities that will be incorporated in a pre-feasibility study for the Gunnison Copper Project, funding US head office general and administrative expenses, partial repayment of outstanding debt due to Nebari, and for general working capital purposes.
Each unit will consist of one company common share plus one-half of one common share purchase warrant, with each warrant entitling the holder to purchase one Gunnison Copper common share at a price of C$0.65 at any time for a period of 36 months following the issue date.
The company noted that up to 24,858,878 Listed Issuer Financing Exemption (LIFE) units will be offered for sale to purchasers in all of the provinces of Canada, except Québec.
The offering is expected to close on or around October 29, 2025, and is subject to receipt of all necessary regulatory approvals, including the Toronto Stock Exchange.
As well, Gunnison Copper announced that Robert Winton has been promoted to the role of chief operating officer (COO), effective immediately.
Winton has been with the company since August 2020, serving as senior vice president operations and general manager.
"Under his (Winton’s) direction, the team brought the Johnson Camp Mine into production within a year of breaking ground - an extraordinary achievement that reflects his unwavering dedication to operational discipline, safety, and execution excellence," Gunnison Copper CEO Stephen Twyerould said in a statement.
Winton brings more than 25 years of experience in mining operations, technical services, and project execution to his new role, having previously held senior operational roles with several North American base-metal producers, including Hudbay Minerals.