Grizzly Closes 1st Tranche of Private Placement

Executive Summary

• Grizzly Discoveries Inc. closed the first tranche of its non‑brokered private placement, selling 2,030,000 Units and 13,430,000 FT Units at $0.035 per unit for gross proceeds of $541,100.
• The offering remains open for a second tranche of up to 5,112,856 Units and 7,998,574 FT Units under the same terms.
• Finder’s fees of $29,463 were paid and 841,800 non‑transferable finder warrants were issued to participating securities firms.

Key Details

• Units sold (first tranche): 2,030,000 Units + 13,430,000 FT Units @ $0.035 each → $541,100 gross proceeds.
• Offering capacity: Up to 7,142,856 Units and up to 21,428,574 Units/FT Units total; after first tranche, remaining capacity of up to 5,112,856 Units and 7,998,574 FT Units.
• Unit composition: Each Unit = 1 common share + 1 common‑share purchase warrant (exercise price $0.055, expiry: either 30 days after TSX‑V price ≥ C$0.10 for 10 consecutive days or 5 years).
• FT Unit composition: Each FT Unit = 1 common share + ½ common‑share purchase warrant (treated as a flow‑through share for tax purposes); warrant terms similar, expiry of 3 years.
• Finder fees & warrants: Total cash finder fees $29,463; Finder Warrants issued (total 841,800) with the following breakdown:

• Post‑closing share count: 221,925,956 common shares issued and outstanding.
• Trading restrictions: All common shares and any shares issuable upon exercise of Unit Warrants, FT Unit Warrants, and Finder Warrants are restricted from trading until July 18 2026.
• Regulatory condition: Closing subject to final acceptance by the TSX Venture Exchange.

Notable Quotes

(No executive quotes were included in the release.)