Grizzly Discoveries clarifies financing terms

Executive Summary

• Grizzly Discoveries Inc. announced a private placement to raise up to $1 million in gross proceeds.
• The offering consists of up to 8,333,333 units and up to 25 million FT units at C$0.03 per unit/FT unit.
• Proceeds will be allocated according to a detailed use‑of‑proceeds table (see Key Details).

Key Details

• Offering Size: Up to C$1 million gross proceeds if fully subscribed.
• Units Offered:
• Up to 8,333,333 units at C$0.03 each.
• Each unit = 1 common share + 1 common‑share purchase warrant (exercise price C$0.05).
• Warrant expires either 30 days after a written notice that TSX V’s VWAP ≥ C$0.10 for 10 consecutive trading days, or 24 months from issuance, whichever is earlier.
• FT Units Offered:
• Up to 25 million FT units at C$0.03 each.
• Each FT unit = 1 common share + ½ warrant, issued as flow‑through shares for Canadian tax purposes.
• Geographic Target: Qualified subscribers in Alberta, British Columbia, Ontario, and other jurisdictions as determined by the company under securities exemptions.
• Use of Proceeds: Detailed allocation (e.g., exploration drilling, property acquisition, corporate expenses) provided in an attached table; amounts will be prorated if actual proceeds differ from maximum.
• Finder’s Fees: May be paid in cash, units, or warrants to registered broker‑dealers, limited market dealers, or arm’s‑length persons per TSX V policies.
• Share Trading Restrictions: Common shares and any shares issued upon warrant exercise are restricted from trading for 4 months + 1 day after issuance.
• Closing Conditions: Subject to acceptance by the TSX Venture Exchange and completion of all regulatory requirements.

Notable Quotes

(No executive quotes were included in the release.)