Gunnison Copper Eliminates Nebari Debt and Achieves Major Balance Sheet Milestone

Core Viewpoint - Gunnison Copper Corp. has successfully eliminated all outstanding principal owed to Nebari Natural Resources Credit Fund I LP, marking a significant milestone in the company's balance sheet transformation [1][2]. Debt Reduction - The company has reduced the principal amount of Nebari debt from US$15.0 million to zero, achieving its goal of removing legacy secured debt and strengthening its financial position [2]. - The final elimination of the debt occurred through additional conversion notices from Nebari, totaling US$4.75 million at a conversion price of US$0.2097 per share, resulting in the issuance of 22,651,407 common shares [3]. Management Commentary - The Senior Vice President and CFO of Gunnison Copper stated that the repayment of the Nebari debt is a major milestone, enhancing the company's financial flexibility as it advances its flagship Gunnison Project [4]. - Nebari's representative commented on the company's strengthening progress under capable management, highlighting the successful debt conversions [4]. Financial Position and Project Development - Gunnison has previously announced a US$7.3 million repayment of Nebari's non-convertible debt, and all principal amounts under the Second Amended and Restated Credit Agreement have now been fully repaid or converted [4]. - The company remains focused on operational execution, balance-sheet strength, and delivering long-term value while supporting domestic copper supply and U.S. critical-minerals objectives [5]. Project Details - The flagship Gunnison Copper Project has a Measured and Indicated Mineral Resource of over 831.6 million tons with a total copper grade of 0.31%, and a preliminary economic assessment indicates an NPV8% of $1.3 billion and an IRR of 20.9% [6]. - The Johnson Camp Asset, now in production, is fully funded by Nuton LLC, with a production capacity of up to 25 million lbs of finished copper cathode annually [8].