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Gunnison Copper Closes its Oversubscribed C$34.5 Million Bought Deal Public Offering

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Gunnison Copper (GCU.TO) closed its previously announced bought deal public offering, pursuant to which the company sold around 82.1 million common shares, including the full exercise of the over-allotment option granted by the company of around 10.7 million common shares, at a price of C$0.42 each for gross proceeds of approximately C$34.5 million.

The offering was conducted by a syndicate of underwriters led by Canaccord Genuity Corp, as sole bookrunner, on behalf of a syndicate of underwriters that included Paradigm Capital Inc, as co-lead underwriter with Canaccord Genuity, and Ventum Financial Corp and CIBC Capital Markets, said the company.

The net proceeds of the offering will be used to advance the company's Gunnison Copper Project in Arizona, as well as for working capital and general corporate purposes.

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

The company's shares were last seen unchanged at $0.46 on the Toronto Stock Exchange.

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