Grizzly Announces Private Placement

Executive Summary

• Grizzly Discoveries Inc. announced a private placement of Units and Flow‑Through (FT) Units for up to $1 million in gross proceeds.
• Each Unit/FT Unit is priced at $0.03, comprising one common share plus a warrant (or half‑warrant for FT Units).
• Proceeds are earmarked primarily for mineral property exploration ($750,000) and related working capital needs.

Key Details

• Offering Size: Up to 8,333,333 Units and up to 25,000,000 Units/FT Units (combined) – maximum gross proceeds of $1 M if fully subscribed.
• Pricing: $0.03 per Unit or FT Unit.
• Unit Composition:
• 1 common share + 1 warrant (exercise price $0.05, expires upon either:
  • 30 days after TSX‑V price ≥ CAD 0.10 for 10 consecutive trading days, or
  • 24 months from issuance).
• FT Unit Composition: 1 common share + ½ warrant, issued as a flow‑through share for Canadian tax purposes.
• Use of Proceeds (if fully subscribed):
• Mineral Property Exploration – $750,000
• Mineral Rights & Exploration Permits – $35,000
• Working Capital / Outstanding Management Fees – $32,000
• Other Accounts Payable – $47,000 (total $79,000)
• Corporate Overhead – $24,000 (management fees) + $112,000 other overhead (approx. 4 months) = $136,000
• Total Allocated Use: $1,000,000 (matches maximum proceeds).
• Minimum Subscription: None; if less than the maximum is raised or the mix of Units/FT Units differs, use‑of‑proceeds allocations will be adjusted proportionally.
• Finder’s Fees: May be paid in cash, Units, and/or Warrants to registered broker‑dealers or arm’s‑length persons per TSX Venture Exchange policies.
• Trading Restrictions: Common shares and any shares issued upon warrant exercise are restricted from trading for four months and one day after issuance.
• Regulatory Condition: Offering subject to acceptance by the TSX Venture Exchange.

Notable Quotes

• “We are pleased to provide additional financing to advance our exploration program and maintain operational flexibility,” – Brian Testo, CEO & President, Grizzly Discoveries Inc.