Accretive transaction prevents the issuance of 28.9 million common shares at a 54.4% discount to the Company's recent equity financing price
Phoenix, Arizona--(Newsfile Corp. - July 7, 2026) - Gunnison Copper Corp. (TSX: GCU) (OTCQB: GCUMF) (FSE: 3XS0) ("Gunnison" or the "Company") is pleased to announce that it has completed the cash settlement of its outstanding convertible debentures (the "Debentures") with Greenstone Excelsior Holdings LP and Greenstone Resources LP (collectively, "Greenstone"), preventing the issuance of approximately 28.9 million common shares that would have been issued had the Debentures been converted into common shares of the Company.
The cash settlement significantly reduces potential shareholder dilution and further strengthens the Company's capital structure. The effective conversion price of the Debentures was approximately US$0.135 per share, which was a 54.4% discount to the effective price of approximately US$0.2958 per share of the Company's recently completed equity financing. Based on these numbers, the transaction reduces the dilution to shareholders by a value of approximately US$4.66 million relative to the Company's recent equity financing price, equivalent to approximately US$0.01 per outstanding common share.
"This transaction reflects our disciplined approach to capital allocation and our commitment to creating shareholder value," said Craig Hallworth, President and Chief Executive Officer of Gunnison Copper. "By settling the convertible debt in cash, we prevented the issuance of approximately 28.9 million common shares, eliminating a significant source of potential dilution while removing a meaningful market overhang. Together with our recently completed financing, this transaction strengthens our balance sheet and positions us to accelerate advancement of the Gunnison Copper Project."
ABOUT GUNNISON COPPER
Gunnison Copper Corp. is a multi-asset pure-play copper developer and producer that controls the Cochise Mining District (the district), containing 12 known deposits within an 8 km economic radius, in the Southern Arizona Copper Belt.
Its flagship asset, the Gunnison Copper Project, has a main pit Measured and Indicated Mineral Resource containing over 846 million tons with a total copper grade of 0.33% containing 5.19 billion pounds of copper (Measured Mineral Resource of 192 million tons at 0.37% containing 1.42 billion pounds of copper and Indicated Mineral Resource of 655 million tons at 0.31% containing 3.77 billion pounds of copper).