Grizzly Discoveries (GZD) has closed its previously announced private placement for gross proceeds of $155,000.
The company will offer up to 2,500,000 units at $0.05 per unit and 600,000 flow-through units at $0.05 per flow-through unit.
Each unit consists of one common share and one non-transferable warrant.
Each flow-through unit consists of one common share issued as a flow-through share for the purposes of the Income Tax Act (Canada) and one-half of one warrant.
Each warrant entitles the holder to acquire one additional common share for $0.075 for 24 months from the date of issuance, subject to acceleration.
The company will use unit proceeds for general corporate and working capital purposes.
Grizzly Discoveries is focused on developing over 160,000 acres of precious and base metals properties in southeastern British Columbia.
Shares of Grizzly Discoveries (GZD) are currently trading at $0.055 per share.