Gunnison Copper Eliminates Nebari Debt and Achieves Major Balance Sheet Milestone
Rhea-AI Summary
Gunnison Copper (OTCQB: GCUMF) announced it has fully eliminated the Nebari Natural Resources Credit Fund I LP principal, reducing Nebari principal from US$15.0 million to zero. The final step comprised conversions totaling US$4.75 million at a conversion price of US$0.2097 per share (C$0.30), resulting in the issuance of 22,651,407 common shares. Combined with a previously announced US$7.3 million repayment of non-convertible debt, all principal under the Second ARCA has been repaid or converted. Gunnison will repay a partial month of interest and is working to obtain release of the related security documents.
This milestone is presented as strengthening the company’s balance sheet and supporting its equity-based capital structure ahead of construction of the Gunnison Project.
Positive
- Nebari principal reduced from US$15.0M to zero
- Final conversions of US$4.75M at US$0.2097 per share
- Issued 22,651,407 common shares via conversion
- Repaid US$7.3M of non-convertible Nebari debt
Negative
- Share issuance of 22,651,407 common shares causes dilution
- Partial month of interest remains payable by Gunnison
- Release of security documents is still pending
News Market Reaction
On the day this news was published, GCUMF gained 0.97%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Phoenix, Arizona--(Newsfile Corp. - January 20, 2026) - Gunnison Copper Corp. (TSX: GCU) (OTCQB: GCUMF) (FSE: 3XS0) ("Gunnison" or the "Company") is pleased to announce it has fully eliminated all outstanding principal owed to Nebari Natural Resources Credit Fund I LP ("Nebari"), marking a significant milestone in the Company's transformation of its balance sheet.
In total, Gunnison has reduced the principal amount of the Nebari debt from US
The debt was finally eliminated when the Company received additional conversion notices from Nebari pursuant to the terms of the Second Amended and Restated Credit Agreement (the "Second ARCA"). The latest conversions total US
"The repayment of the Nebari debt is a major milestone for Gunnison," said Craig Hallworth, SVP & CFO of Gunnison Copper. "Through disciplined execution, delivery on key milestones, and strategic conversions, we have removed all legacy secured debt from our capital structure. This significantly strengthens our balance sheet and positions Gunnison with enhanced financial flexibility as we continue to execute on major milestones in the advancement of our large-scale flagship Gunnison Project. As a pure-play copper company, we are proud to be advancing new large-scale copper production on US soil, as demand continues to grow from national defense, infrastructure, and AI data centers."
Andre Krol of Nebari commented, "Nebari's debt conversions are testament to the Company's strengthening progress under highly capable management. We are proud to have been part of that journey."
Combined with Gunnison's previously announced US
Gunnison remains focused on operational execution, balance-sheet strength, and delivering long-term value as it supports domestic copper supply and U.S. critical-minerals objectives.
For further information regarding this press release, please contact:
Gunnison Copper Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018
Melissa Mackie
T: 647.533.4536
E: info@GunnisonCopper.com
www.GunnisonCopper.com
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 Measured and Indicated Mineral Resource containing over 831.6 million tons with a total copper grade of
The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the conclusions reached in the PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
In addition, Gunnison's Johnson Camp Asset, which is now in production, is fully funded by Nuton LLC, a Rio Tinto Venture, with a production capacity of up to 25 million lbs of finished copper cathode annually.
Other significant deposits controlled by Gunnison in the district, with potential to be economic satellite feeder deposits for Gunnison Project infrastructure, include Strong and Harris, South Star, and eight other deposits.
For additional information on the Gunnison Project, including the PEA and mineral resource estimate, please refer to the Company's technical report entitled "Gunnison Project NI 43-101 Technical Report Preliminary Economic Assessment" dated effective November 1, 2024 and available on SEDAR+ at www.sedarplus.ca.
Dr. Stephen Twyerould, Fellow of AUSIMM, President and CEO of the Company is a Qualified Person as defined by NI 43-101. Dr. Twyerould has reviewed and is responsible for the technical information contained in this news release.
For more information on Gunnison, please visit our website at www.GunnisonCopper.com.
For further information regarding this press release, please contact:
Gunnison Copper Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
Certain statements contained in this release constitute forward-looking information within the meaning of applicable Canadian securities laws. Such forward-looking statements relate to the intention to deploy the Nuton® technology at the Johnson Camp mine and future production therefrom; the continued funding of the stage 2 work program by Nuton; the details and expected results of the stage two work program; future production and production capacity from the Company's mineral projects; the results of the preliminary economic assessment on the Gunnison Project; and the exploration and development of the Company's mineral projects.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, Nuton will continue to fund the stage 2 work program, the availability of financing to continue as a going concern and implement the Company's operational plans, expectations regarding the receipt of 48C tax credits, the estimation of mineral resources, the realization of resource and reserve estimates, copper and other metal prices, the timing and amount of future development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs (including the price of acid), the availability of labour, material and acid supply, receipt of and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to the Company not obtaining adequate financing to continue operations, the Company receives less 48C tax credits than expected, Nuton failing to continue to fund the stage 2 work program, the breach of debt covenants, risks inherent in the construction and operation of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined including the possibility that mining operations may not be sustained at the Gunnison Copper Project, risks related to the delay in approval of work plans, variations in mineral resources and reserves, grade or recovery rates, risks relating to the ability to access infrastructure, risks relating to changes in copper and other commodity prices and the worldwide demand for and supply of copper and related products, risks related to increased competition in the market for copper and related products, risks related to current global financial conditions, risks related to current global financial conditions on the Company's business, uncertainties inherent in the estimation of mineral resources, access and supply risks, risks related to the ability to access acid supply on commercially reasonable terms, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the construction or mining process, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental risks and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280923
FAQ
What did Gunnison Copper (GCUMF) announce on January 20, 2026 about Nebari debt?
How many shares did Gunnison issue to convert Nebari debt for GCUMF?
Did Gunnison repay any non-convertible Nebari debt in the GCUMF announcement?
Does Gunnison still owe interest or have encumbrances after the GCUMF debt eliminations?
What is the stated strategic impact of eliminating Nebari debt for GCUMF?
