Grizzly Discoveries announces private placement of up to $2M

Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) announced a private placement offering of up to $2 million in Units, FT Units, and CMFT Units, according to a press release.

The offering includes up to 10,000,000 Units at $0.05 per Unit for gross proceeds of up to $500,000, with the remaining $1,500,000 available through any combination of FT Units at $0.055 each and CMFT Units at $0.06 each. The total number of units to be issued ranges from 35,000,000 to 40,000,000, depending on the mix of unit types sold.

Each unit type includes one common share and a warrant to purchase an additional common share at $0.12, expiring either 30 days after the company provides notice that its volume-weighted average trading price on the TSX Venture Exchange has reached or exceeded CA$0.18 for 10 consecutive trading days, or 24 months from the date of issuance, whichever comes first. FT Units and CMFT Units each carry one-half of one warrant rather than a full warrant.

The offering is available to qualified subscribers in Alberta, British Columbia, and Ontario, with a potential close expected in mid-October, possibly in two or more tranches. There is no minimum subscription requirement.

Proceeds from Unit sales are designated for general working capital and mineral rights acquisition. Proceeds from FT Units and CMFT Units are designated for exploration of the company's mineral properties, with CMFT Unit proceeds specifically targeting critical minerals as defined under Canada's Income Tax Act.

The offering is subject to acceptance by the TSX Venture Exchange. Grizzly Discoveries holds approximately 72,700 hectares of mineral properties in southeastern British Columbia.

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