Edmonton, Alberta--(Newsfile Corp. - June 13, 2022) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company") is pleased to announce that it has closed on a private placement (the "Offering") by the issuance of 1,417,777 Units (as defined below) at a price of $0.09 per Unit for gross proceeds of $127,600.
Under the terms of the Offering, each Unit consisted of one common share of the Company ("Common Share") and one non-transferable warrant ("Warrant"). Each whole Warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.12 per Common Share until June 13, 2024.
The Company intends to use the proceeds from the Units for general working capital.
In connection with the Offering, the Company paid cash finder's fees totaling $7,656 to Assessment Systems Corporation. The Common Shares and any Common Shares issued on exercise of the Warrants will be subject to restrictions on trading until October 14, 2022 in accordance with the policies of the TSX Venture Exchange.
Following closing of the Offering, the Company has 134,542,667 Common Shares issued and outstanding. The Offering 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 focused on developing its approximately 66,000 hectares (approximately 165,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President
For further information, please visit our website at www.grizzlydiscoveries.com or contact:
Chris Beltgens
Corporate Development
Tel: 604-282-6372
Email: cbeltgens@grizzlydiscoveries.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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127592
