Grizzly Announces Closing of Second and Last Tranche of Private Placement
Suite 363, 9768 170th Street NW,
Edmonton, Alberta, Canada, T5T5L4
Tel: 780-693-2242
TSXV: GZD
OTCPK: GZDIF
Frankfurt: G6H
July 20, 2018
GRIZZLY ANNOUNCES CLOSING OF SECOND AND LAST TRANCHE OF PRIVATE PLACEMENT
EDMONTON, ALBERTA – July 24, 2018 -- Grizzly Discoveries Inc. (TSX-V: GZD; OTCPK: GZDIF; Frankfurt:
G6H) ("Grizzly" or the "Company") is pleased to announce that it has closed on the second and final
tranche of a private placement for additional gross proceeds of $10,000 (the “Second Tranche”).
On July 24, 2018, the Company closed on an additional 100,000 flow-through units (“ FT Units ”) (as
described below) at a price of $0.10 per FT Unit for gross proceeds of $10,000. Each FT Unit sold consisted
of one common share of the Company issued as a flow -through share pursuant to the Income Tax Act
(Canada) and one half of one warrant (“Second Tranche Warrant”). Each Second Tranche Warrant entitles
the holder to acquire an additional Share for an exercise price of $0.12 and expires on th e earlier of: (a)
30 days following the issuance of a news release by the Corporation that the trading price of the Common
Shares on the TSX Venture Exchange is at or greater than $0.18 per Common Share for 10 consecutive
trading days; and (b) July 25, 2020.
In total, the two tranches of the private placement on July 19 and July 24, 2018 resulted in the issuance
of an aggregate 562,500 NFT Units and 200,000 FT Units for total gross proceeds of $65,000. The issuance
of flow-through shares included in the FT Units obligate the Company to incur approximately $20,000 in
expenditures qualifying as Canadian Exploration Expenditures (“CEE”) in accordance with the Income Tax
Act. Grizzly expects to renounce CEE expenditures as at December 31, 2018 to the purchase rs of the FT
Units.
All of the Shares and any additional Shares issuable upon exercise of warrants are subject to a holding
period of four months and one day in accordance with the policies of the TSX Venture Exchange. The
closing of the Placement is subject to final acceptance by the TSX Venture Exchange.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture
Exchange with 62 million shares issued, focused on developing its precious and base metals properties in
southeastern British Columbia along with significant Potash assets in Alberta. The Company holds over
180,000 acres of precious -base metal properties at its Greenwood Project; additionally, Grizzly holds
9,891 acres with Co-Cu-Ag mineralization at its Robocop Property, both located in southeastern British
Columbia. The Company also holds more than 160,000 acres of p roperties which host diamondiferous
kimberlites in the Buffalo Head Hills region of Alberta; and me tallic and industrial mineral permits for
potash totaling more than 60,000 acres along the Alberta-Saskatchewan border.
The content of this news release and the Company’s technical disclosure has been reviewed and approved
by Michael B. Dufresne, M. Sc., P. Geol., who is the Qualified Person as defined by National Instrument
43-101 Standards of Disclosure for Mineral Projects.
On behalf of the Board,
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GRIZZLY DISCOVERIES INC.
Brian Testo
CEO, President
Tel: (780) 693-2242
For further information, please visit our website at www.grizzlydiscoveries.com or contact:
Nancy Massicotte, Investor Relations or Ian Lambert
IR PRO COMMUNICATIONS INC. COO, Grizzly Discoveries Inc.
Tel: 604-507-3377 Tel: 416-840-9843
Toll Free: 1-866-503-3377 Email: [email protected]
Email: [email protected]
www.irprocommunications.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution concerning forward-looking information
This press release contains "forward -looking information" and "forward -looking statements" within the
meaning of applicable securities laws. This information and statements address future activities, events,
plans, developments and projections. All statements, other than statements of historical fact, constitute
forward-looking statements or forward -looking information. Such forward -looking information and
statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan,"
"expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates,
opinions and analysis made by management of Grizzly in light of its experience, current conditions,
expectations of future developments and other factors which it believes to be reasonable and relevant.
Forward-looking information and statements involve known and unknown risks and uncertainties that
may cause Grizzly's actual results, performance and achieveme nts to differ materially from those
expressed or implied by the forward-looking information and statements and accordingly, undue reliance
should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability
of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and
regulations, including environmental laws and obtaining requisite permits; political, economic and other
risks; as well as other risk s and uncertainties which are more fully described in our annual and quarterly
Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory
authorities and available at www.sedar.com. Grizzly disclaims any obliga tion to update or revise any
forward-looking information or statements except as may be required by law.