Grizzly Announces Extension to Private Placement
Grizzly Announces Extension to Private
Placement
Edmonton, Alberta--(Newsfile Corp. - May 29, 2025) -
Grizzly Discoveries Inc. (TSXV: GZD) (FSE:
G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company")
has extended the private placement (the
"Offering") of Units and FT Units for aggregate gross proceeds of up to $1,000,000 if fully subscribed
originally announced on April 29, 2025.
Private Placement Offering
The Offering consists of up to 8,333,333 Units and up to 25,000,000 of any combination of Units and FT
Units, with the Units and FT Units each priced at $0.03 per Unit and FT Unit.
Each Unit shall consist of
one common share of the Company ("Common Share") and one Common Share purchase warrant
entitling the warrant holder to purchase an additional Common Share for $0.05 and expiring on the
earlier of a) 30 days following written notice by the Company to the warrant holder that the volume-
weighted average trading price of the Common Shares on the TSX Venture Exchange is at or greater
than CA$0.10 per Common Share for 10 consecutive trading days; and (b) 24 months from the date of
issuance ("Warrant").
Each FT Unit shall consist of one Common Share and one half of one Warrant,
each of which shall be issued as a "flow through share" for the purposes of the Income Tax Act
(Canada).
The Offering is being offered to qualified subscribers in the Provinces of Alberta, British
Columbia and Ontario and in other jurisdictions as the Company may in its discretion determine, in
reliance upon exemptions from the registration and prospectus requirements of applicable securities
legislation.
The Company intends to use the proceeds of the Offering, if fully subscribed with the maximum of
25,000,000 in FT Units and 8,333,333 Units, as follows:
Mineral Property Exploration
$ 750,000
Mineral Rights and Exploration Permits
80,000
Working capital
Outstanding management fees to Officers
$ 12,000
Other accounts payable
65,000
$ 77,000
Corporate Overhead
Management fees to Officers
$ 18,000
(3 months)
Other Corporate Overhead
75,000
$ 93,000
Maximum proceeds
$ 1,000,000
There is no minimum to the Offering.
If the Company closes on less than the maximum proceeds, or if the
proportion of Units and FT Units differs from the above, the use of proceeds will be adjusted.
In connection with the Offering, the Company may pay finders fees payable in any combination of cash,
Units, and Warrants to registered broker dealers, limited market dealers or arm's length persons in
accordance with the policies of the TSX Venture Exchange (the "Exchange") and applicable securities
legislation and regulations.
The Common Shares and any Common Shares issued on exercise of the
Warrants shall be subject to restrictions on trading until four months and one day from the date of
issuance in accordance with the policies of the Exchange.
The Offering is subject to acceptance of 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 focused on developing its approximately 72,700 ha (approximately 180,000 acres) of
precious and critical minerals properties in southeastern British Columbia.
Grizzly is run by highly
experienced junior resource sector management team, who have a track record of advancing
exploration projects from early exploration stage through to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President
Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4
For further information, please visit our website at
www.grizzlydiscoveries.com
or contact:
Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email:
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.
NOT FOR DISSEMINATION IN THE UNITED STATES OR
FOR DISTRIBUTION TO U.S. WIRE SERVICES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/253851