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Grizzly Closes Final Tranche of Private Placement
TMX Newsfile· 2026-03-31 20:15
Core Viewpoint - Grizzly Discoveries Inc. has successfully completed a non-brokered private placement, raising a total of $741,100 through the sale of FT Units and Units, aimed at funding mineral exploration and working capital needs [1][4]. Group 1: Offering Details - The company closed the sale of an additional 5,714,286 FT Units at a price of $0.035 per unit, generating gross proceeds of $200,000 as part of the final tranche of the Offering [1]. - In total, Grizzly sold 19,144,286 FT Units and 2,030,000 Units at the same price, resulting in aggregate gross proceeds of $741,100 [1]. - Each Unit consists of one common share and one warrant, allowing the purchase of an additional common share at $0.055, with specific expiration conditions [2]. Group 2: Use of Proceeds - The proceeds from the Offering will be allocated as follows: $670,050 for mineral property exploration, $29,600 for mineral rights and exploration permits, and $41,450 for working capital [4]. Group 3: Company Overview - Grizzly Discoveries Inc. is a diversified Canadian mineral exploration company, primarily listed on the TSX Venture Exchange, focusing on approximately 72,700 hectares of precious and base metals properties in southeastern British Columbia [4]. - The company is managed by a highly experienced team with a proven track record in advancing exploration projects from early stages to feasibility [4].
Grizzly Completes Private Placement for Gross Proceeds of $835,910
TMX Newsfile· 2026-01-09 14:00
Core Viewpoint - Grizzly Discoveries Inc. has successfully closed a second tranche of a private placement, raising a total of $595,910, bringing the aggregate gross proceeds from the Offering to $835,910 [1][2]. Group 1: Offering Details - The Offering included 11,836,667 FT Units and 8,027,000 Units, with each Unit priced at $0.03, consisting of one common share and one non-transferable warrant [1][2]. - The warrants allow holders to purchase additional common shares at $0.05, expiring either 30 days after a price threshold is met or 24 months from issuance [2]. - The Offering was available to qualified subscribers in Alberta, British Columbia, Ontario, and other jurisdictions, relying on exemptions from registration and prospectus requirements [2]. Group 2: Financial Transactions - A cash finder's fee of $14,400 was paid for the sale of 8,000,000 FT Units, along with the issuance of 240,000 Finder Warrants to two firms [3]. - An insider subscribed for 6,667,000 FT Units, generating gross proceeds of $200,010, which is exempt from formal valuation and minority approval requirements [4]. Group 3: Use of Funds - The proceeds from the Offering will be allocated as follows: $500,000 for mineral property exploration, $32,500 for mineral rights and exploration permits, and $112,500 for working capital and corporate overhead [7]. Group 4: Company Overview - Grizzly Discoveries Inc. is a diversified Canadian mineral exploration company focused on developing approximately 72,700 hectares of precious and base metals properties in southeastern British Columbia [8]. - The company is managed by a team with extensive experience in advancing exploration projects from early stages to feasibility [8]. Group 5: Share Structure - Following the final tranche of the Offering, the company has 206,465,956 common shares issued and outstanding, with trading restrictions on the new shares for four months [6].