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Grizzly Announces Adjustment to Private Placement Announced June 24, 2020
Edmonton, Alberta--(Newsfile Corp. - July 13, 2020) - Grizzly Discoveries Inc. (TSXV: GZD) (O...
About this update from Grizzly Discoveries Inc
[{"type":"text","content":"Grizzly Announces Adjustment to Private Placement Announced June 24, 2020Edmonton, Alberta--(Newsfile Corp. - July 13, 2020) - Grizzly Discoveries Inc. (TSXV: GZD) (OTCQB: GZDIF) (FSE: G6H) (\"Grizzly\" or the \"Company\") has adjusted the allocation of Units and FT Units (defined below) in the Private Placement announced by the Company on June 24, 2020, to a maximum of 6,530,000 FT Units, and a maximum of 13,470,000 Units, still for maximum aggregate gross proceeds of $1,000,000. In addition, the Warrants, included in the Units (one Warrant) and FT Units (one half of one Warrant), and Finder Warrants will expire on the earlier of : (a) 30 days following the issuance of a news release by the Company that the trading price of the Common Shares on the TSX Venture Exchange is at or greater than $0.10 per Common Share for 10 consecutive trading days; and (b) 24 months from the date of issuance (\"Warrant\"). In its announcement of June 24, 2020, the Company had incorrectly stated the pricing in (a) as being $0.12. On June 24, 2020, the Company announced that it was undertaking a private placement (the \"Private Placement\") of up to 16,000,000 Units at a price of $0.05 per Unit, and up to 4,000,000 FT Units (as defined below) at a price of $0.05 per FT Unit, for aggregate gross proceeds of up to $1,000,000. Each Unit consists of one common share of the Company (\"Common Share\") and one non-transferable warrant with each Warrant entitling the holder to acquire one additional Common Share at an exercise price of $0.075 per Common Share until the earlier of : (a) 30 days following the issuance of a news release by the Company that the trading price of the Common Shares on the TSX Venture Exchange is at or greater than [$0.10] per Common Share for 10 consecutive trading days; and (b) 24 months from the date of issuance (\"Warrant\"). Each FT 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.The Private Placement is being offered to qualified subscribers in the Provinces of Alberta, British Columbia, Ontario, and in other such jurisdictions in reliance upon exemptions from the registration and prospectus requirements of applicable securities legislation.In connection with the Private Placement, where permitted by applicable securities legislation,...