Edmonton, Alberta--(Newsfile Corp. - July 24, 2018) - Grizzly Discoveries Inc. (TSXV: GZD) (OTC Pink:
GZDIF) (FSE: G6H) ("Grizzly" or the "Company") is pleased to announce that it has closed on the second and final tranche of a
private placement for additional gross proceeds of $10,000 (the "Second Tranche").
On July 24, 2018, the Company closed on an additional 100,000 flow-through units ("FT Units") (as described below) at a price of
$0.10 per FT Unit for gross proceeds of $10,000. Each FT Unit sold consisted of one common share of the Company issued as a
flow-through share pursuant to the Income Tax Act (Canada) and one half of one warrant ("Second Tranche Warrant"). Each Second
Tranche Warrant entitles the holder to acquire an additional Share for an exercise price of $0.12 and expires on the earlier of:
(a) 30 days following the issuance of a news release by the Corporation that the trading price of the Common Shares on the TSX
Venture Exchange is at or greater than $0.18 per Common Share for 10 consecutive trading days; and (b) July 25, 2020.
In total, the two tranches of the private placement on July 19 and July 24, 2018, resulted in the issuance of an aggregate
562,500 NFT Units and 200,000 FT Units for total gross proceeds of $65,000. The issuance of flow-through shares included in the FT
Units obligate the Company to incur approximately $20,000 in expenditures qualifying as Canadian Exploration Expenditures ("CEE")
in accordance with the Income Tax Act. Grizzly expects to renounce CEE expenditures as at December 31, 2018, to the purchasers of
the FT Units.
All of the Shares and any additional Shares issuable upon exercise of warrants are subject to a holding period of four months
and one day in accordance with the policies of the TSX Venture Exchange. The closing of the Placement is subject to final
acceptance by the TSX Venture Exchange.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange with 62
million shares issued, focused on developing its precious and base metals properties in southeastern British Columbia along with
significant Potash assets in Alberta. The Company holds over 180,000 acres of precious-base metal properties at its Greenwood
Project; additionally, Grizzly holds 9,891 acres with Co-Cu-Ag mineralization at its Robocop Property, both located in southeastern
British Columbia. The Company also holds more than 160,000 acres of properties which host diamondiferous kimberlites in the Buffalo
Head Hills region of Alberta; and metallic and industrial mineral permits for potash totaling more than 60,000 acres along the
Alberta-Saskatchewan border.
The content of this news release and the Company's technical disclosure has been reviewed and approved by Michael B. Dufresne,
M. Sc., P. Geol., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral
Projects.
On behalf of the Board,
GRIZZLY DISCOVERIES INC.
Brian Testo
CEO, President
Tel: (780) 693-2242
For further information, please visit our website at www.grizzlydiscoveries.com or contact:
Nancy Massicotte
Investor Relations
IR PRO COMMUNICATIONS INC.
Tel: 604-507-3377
Toll Free: 1-866-503-3377
Email: ir@grizzlydiscoveries.com
Ian Lambert
COO, Grizzly Discoveries Inc.
Tel: 416-840-9843
Email: ilambert@grizzlydiscoveries.com
www.irprocommunications.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution concerning forward-looking information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable
securities laws. This information and statements address future activities, events, plans, developments and projections. All
statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such
forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate,"
"plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and
analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and
other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown
risks and uncertainties that may cause Grizzly's actual results, performance and achievements to differ materially from those
expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed
thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing;
fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and
obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully
described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities
regulatory authorities and available at www.sedar.com. Grizzly disclaims any obligation to update or revise any forward-looking
information or statements except as may be required by law.
