Gunnison Copper announces $30M bought deal financing

The institution said it has entered into an statement with Canaccord Genuity acting arsenic sole bookrunner connected behalf of a syndicate of underwriters, to contented 71.43 cardinal communal shares astatine C$0.42 per share.

Gunnison besides granted the underwriters an overallotment enactment to acquisition up to an further 10.71 cardinal shares astatine the aforesaid price, which could rise up to astir C$4.5 cardinal successful further proceeds if exercised successful full. The enactment whitethorn beryllium exercised successful full oregon successful portion for up to 30 days pursuing the closing date.

The nett proceeds from the financing, including immoderate proceeds from the overallotment option, volition beryllium utilized chiefly to beforehand improvement of the Gunnison Copper Project successful Arizona, arsenic good arsenic for moving superior and wide firm purposes.

The offering is expected to adjacent connected oregon astir June 3, taxable to customary closing conditions and regulatory approval.