Grizzly Closes Final Tranche of Private Placement

• The most recent release (2026-03-31) reports Grizzly Discoveries Inc. has closed the final tranche of its non-brokered private placement, selling 5,714,286 FT Units at 0.035 CAD per FT Unit for gross proceeds of 200,000 CAD. Combined with prior tranches, the offering totals 19,144,286 FT Units and 2,030,000 regular Units for aggregate gross proceeds of 741,100 CAD.
• Each Unit and FT Unit includes common shares and warrants (Unit warrants exercisable at 0.055 CAD; FT Unit warrants are half-warrants with the same exercise price). The post-closing share count stands at 227,640,242 common shares issued and outstanding.
• Use of proceeds is earmarked primarily for mineral property exploration (670,050 CAD) and related costs, plus working capital. Trading restrictions apply to shares and warrants, with trading unlock periods from mid- to late July through August 2026.
• Context from the prior news flow this period shows a multi-stage private placement process:
• 2026-03-17: Grizzly closed the first tranche, raising 541,100 CAD (Units and FT Units at 0.035 CAD).
• 2026-02-27 and 2026-02-04/2026-01-07/2026-01-09: Announcements of ongoing private placement and the planned exploration program at the Sappho Critical Minerals Target (IP program commencement, drilling plans, and interpretation of historical results).
• 2026-02-26: IP survey at Sappho yielded significant near-surface conductivity anomalies and a new deeper chargeability anomaly, with new copper showings and grab samples indicating copper enrichment.
• 2025-11 to 2026-01: Earlier tranches and extensions for up to 1,000,000 CAD potential in gross proceeds; multiple tranches added liquidity for mineral exploration, rights & permits, and working capital.
• The exploratory program details stress IP work at Sappho and planned drilling in coming months, with additional ground geophysics (magnetics and Loupe EM) planned for multiple targets in Greenwood, including Sappho, Midway, and Motherlode/Greyhound areas.
• Qualitative tone from executives emphasizes ongoing exploration momentum and leverage of the funded work for drill-ready targeting, with some mentions of insiders participating in private placements.

• Income/financing impact: The March 31 final tranche adds 200k CAD of gross proceeds, completing the second and final tranche of the current private placement. This is incremental liquidity but not a material capitalization event by itself; it moots near-term cash constraints and funds specific exploration activities, particularly mineral property exploration and related costs.
• Dilution and ownership: The private placement adds new equity and warrants (0.055 CAD exercise price), contributing to potential further dilution upon warrant exercise. The post-closing share count is 227,640,242; earlier tranches increased outstanding shares incrementally (e.g., 221,925,956 after the first tranche in mid-March, and 186,602,289 after a prior tranche in January 2026). The overall program is additional dilution, but typical for a junior explorer funding its next phase of exploration.
• Strategic alignment: The proceeds are directed toward exploration in British Columbia (Sappho and Greenwood targets), aligning with ongoing IP surveys that have identified meaningful anomalies and high-Cu surface results. This aligns the financing with near-term catalysts (IP results, drilling outcomes) rather than merely funding corporate overhead.
• Overall assessment: The news is routine but positive because it maintains funding for exploration and shows disciplined capital management in a small-cap junior miner. It supports near-term exploration plans, which, if successful, could create value. However, the scale is modest relative to bigger peers, and dilution risk remains as warrants vest and may be exercised.

• Grizzly Discoveries Inc. is a Canadian junior mineral explorer with a diversified BC portfolio centered on copper-gold-silver-focused targets. The flagship focus appears to be the Sappho Critical Minerals Target in the Greenwood area of British Columbia, a copper-rich system with associated precious metals, explored via IP surveys, ground geophysics, and planned drilling.
• Current emphasis: IP survey program at Sappho (early 2026) with follow-up drilling; expansion of exploration activity across Greenwood targets including Midway Mine and Motherlode-Greyhound areas.