Grizzly Announces Private Placement

Grizzly Discoveries Inc. announced a private placement offering up to $2,000,000 CAD in gross proceeds, with a closing targeted for mid-October 2026. The offering may close in multiple tranches and will consist of three unit types: Standard Units at $0.05, Flow-Through Units at $0.055, and Critical Minerals Flow-Through Units at $0.06. Each unit includes common shares and warrants with an exercise price of $0.12, expiring 24 months from issuance or upon a TSXV VWAP trigger of $0.18. Proceeds are allocated to general working capital, mineral rights acquisition, and exploration targeting critical minerals.

Grizzly Discoveries Inc. (GZD) has completed a $2 million capital raise, a figure notably larger than previous tranches for the pre-revenue exploration company. The financing is expected to provide a meaningful extension of the cash runway, with dilution priced in line with recent trading levels in the $0.05–$0.06 range.

The capital will directly fund the announced fall 2026 drilling program at the Midway, Sappho, and Motherlode properties, aligning with management's stated exploration roadmap. The transaction includes Critical Minerals Flow-Through Units, a structure designed to attract tax-advantaged capital and highlight a strategic pivot toward battery metals, though this does not alter the fundamental exploration risk profile.

Grizzly Discoveries Inc. is an exploration-stage company focused on precious and critical metals in the Greenwood District of southeastern British Columbia. The company holds a land package of approximately 180,000 contiguous acres.

Its flagship targets include the Sappho property, which features Cu-Au-Ag-PGE skarn and porphyry targets. Recent IP surveys identified significant chargeability anomalies ranging from 30 to 105+ mV/V, interpreted as disseminated sulphides. The Midway property contains historical high-grade gold-silver-copper-lead-zinc showings, with trenching returning up to 22.8 g/t Au and 1,120 g/t Ag. Additionally, the Motherlode/Greyhound area is a historical copper producer that has yielded new IP chargeability anomalies and strong Cu-Au-Ag soil and rock geochemistry.

Management is led by CEO Brian Testo and President/Geologist Michael Dufresne. The company maintains active partnerships with local First Nations and is exploring potential joint ventures, such as with Phoenix Copper.