Grizzly Discoveries announces $1 million private placement financing

Grizzly Discoveries Inc. (TSXV: GZD) announced a private placement offering to raise up to $1 million in gross proceeds and provided updates on its exploration activities in British Columbia.

The company conducted a sampling program at its Beaverdell property in July 2025, collecting 50 rock grab samples from outcrop and mineralized dump material. The samples were taken to satisfy assessment requirements on newly staked mineral claims in the Beaverdell area of the Greenwood District. Results from the sampling program have not yet been disclosed.

Grizzly's Beaverdell mineral claims are located adjacent to the historical Beaverdell Mine, which produced approximately 34.5 million ounces of silver, 16,700 ounces of gold, 30.6 million pounds of zinc and 25.6 million pounds of lead between 1913 and 1991.

The company reported that certain Crown Grants under its purchase agreement with First Majestic Silver Corp. have been forfeited to the Crown due to non-payment of taxes. The forfeited Crown Grants are no longer available for acquisition under the terms of the original purchase agreement announced in June 2024. Grizzly stated its mineral claims that overlap portions of the Crown Grant areas remain valid.

The private placement consists of up to 8.33 million units and up to 25 million of any combination of units and flow-through units. Each unit includes one common share and one warrant exercisable at $0.05. The warrants expire 24 months from issuance or 30 days after written notice if the company's shares trade at or above $0.10 for 10 consecutive days.

Grizzly plans to allocate $750,000 of the proceeds to mineral property exploration, $80,000 to mineral rights and exploration permits, $100,000 to working capital including outstanding management fees, and $70,000 to corporate overhead for three months.

The company holds approximately 180,000 acres of precious and base metals properties in southeastern British Columbia and plans additional rock and soil sampling along with drilling at the Midway and Motherlode targets for fall 2025, subject to financing.

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