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Gunnison Copper Announces Comprehensive Financial Transaction, Including $3 million in Non-Dilutive Funding from Nuton, a Rio Tinto Venture for Nuton Stage 1 Viability Testing at the Gunnison Project
Phoenix, Arizona--(Newsfile Corp. - March 3, 2025) - Gunnison Copper Corp. (TSX: GCU) (OTCQB: GC...
About this update from Gunnison Copper Corp.
[{"type":"text","content":"Gunnison Copper Announces Comprehensive Financial Transaction, Including $3 million in Non-Dilutive Funding from Nuton, a Rio Tinto Venture for Nuton Stage 1 Viability Testing at the Gunnison ProjectPhoenix, Arizona--(Newsfile Corp. - March 3, 2025) - Gunnison Copper Corp. (TSX: GCU) (OTCQB: GCUMF) (FSE: 3XS0) (\"Gunnison\") is pleased to announce it has agreed to a non-dilutive funding transaction (the \"Nuton Transaction\") with Nuton, LLC (\"Nuton\"), a Rio Tinto Venture, for $3 million in proceeds to Gunnison to be used toward its costs related to a Nuton testing program at the Gunnison Project, as well as the execution of the Tax Partnership Agreement with an agreed-upon allocation of the potential future proceeds from Gunnison and Nuton's award of 48C tax credits from the U.S. government. All amounts in this news release are in United States dollars unless otherwise noted.\"The agreement announced today with Nuton provides Gunnison $3 million in non-dilutive financing and the possibility of additional funds during 2025 as result of monetizing the tax credits awarded to Gunnison and Nuton that Gunnison estimates could be up to $8 million,\" states Stephen Twyerould, President & CEO of Gunnison. \"Nuton's interest in the Gunnison Copper Project's sulfide potential and a potential extension to Stage 2 at Johnson Camp are very positive outcomes for the Company.\"HighlightsGunnison and Nuton have entered into a Collaboration Agreement that will provide for, among other things:Nuton's exclusivity over novel heap leach processing technologies for sulfide mineralization at the Gunnison Open Pit, andAgreed milestones to examine the potential for an extension to the Stage 2 Work Program at the Johnson Camp Mine.In exchange for the above:Nuton will provide $3M to Gunnison to be used toward its expenses for the Nuton Stage 1 Viability study on the Gunnison Open Pit (expected in early March) and other agreed purposes; andThe parties will work within the parameters of the Tax Partnership Agreement to allow for a portion of the realized cash proceeds from the potential sale of 48C tax credits to be distributed to Gunnison to benefit the Stage 2 project, including paying down a significant portion, or all of, the Nebari debt. Gunnison estimates that its share of the potential proceeds could be up to $8M after Nuton's allocation and re...