Grizzly Closes First Tranche of Private Placement

Executive Summary

• Grizzly Discoveries Inc. closed the first tranche of its non‑brokered private placement, selling 8,000,000 FT Units at $0.03 per unit for gross proceeds of $240,000.
• Each FT Unit includes one common share and half a warrant; the warrants are “flow‑through” for Canadian tax purposes and can be exercised at $0.05 per share under specified price conditions.
• The offering remains open for up to an additional 8,333,333 Units (or equivalent mix of Units/FT Units), providing the company with further financing capacity.

Key Details

• Tranche Size & Pricing: 8,000,000 FT Units sold at $0.03 per FT Unit → Gross proceeds: $240,000.
• Unit Composition:
• FT Unit: 1 common share + ½ warrant (flow‑through share).
• Warrant Terms: Purchase additional common share at $0.05; expires on the earlier of:
  1. 30 days after written notice that TSX V’s VWAP ≥ C$0.10 for 10 consecutive trading days, or
  2. 24 months from issuance.
• Overall Offering Capacity: Up to 8,333,333 Units and up to 17,000,000 Units/FT Units after this tranche.
• Finder Compensation: Paid cash finder’s fee of $14,400; issued 240,000 non‑transferable Finder Warrants to GloRes Securities Inc. and 240,000 Finder Warrants to Marquest Asset Management Inc. (same terms as regular warrants).
• Share Count Post‑Closing: 186,602,289 common shares issued and outstanding.
• Trading Restrictions: All common shares and any shares issuable upon exercise of the warrants are restricted from trading until April 18 2026.
• Regulatory Condition: Offering subject to final acceptance by the TSX Venture Exchange.

Notable Quotes

(No executive quotes were included in the release.)