Business
Grizzly Announces Closing of Private Placement
Edmonton, Alberta--(Newsfile Corp. - June 27, 2025) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE:...
About this update from Grizzly Discoveries Inc
[{"type":"text","content":"Grizzly Announces Closing of Private PlacementEdmonton, Alberta--(Newsfile Corp. - June 27, 2025) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (\"Grizzly\" or the \"Company\") has closed on the non-brokered private placement (the \"Offering\") of Units and FT Units, originally announced on April 29, 2025 and extended on May 29, 2025, for gross proceeds of $150,000. The closing of the Offering consisted of 4,166,666 Units and 833,335 FT Units, with the Units and FT Units each priced at $0.03 per Unit and FT Unit. Each Unit consisted of one common share of the Company (\"Common Share\") and one Common Share purchase warrant entitling the warrant holder to purchase an additional Common Share for $0.05 and expiring on the earlier of a) 30 days following written notice by the Company to the warrant holder that the volume-weighted average trading price of the Common Shares on the TSX Venture Exchange is at or greater than CA$0.10 per Common Share for 10 consecutive trading days; and (b) 24 months from the date of issuance (\"Warrant\"). Each FT Unit consisted of one Common Share and one half of one Warrant, each of which have been issued as a \"flow through share\" for the purposes of the Income Tax Act (Canada). The Offering was offered to qualified subscribers in reliance upon exemptions from the registration and prospectus requirements of applicable securities legislation.The Company intends to use the proceeds of the Offering as follows:Mineral Property Exploration  $ 25,000Mineral Rights and Exploration Permits 50,000Working capitalOther accounts payable25,000Corporate Overhead Other Corporate Overhead50,000 Gross proceeds$ 150,000 The Common Shares and any Common Shares issued on exercise of the Warrants and Finder Warrants are subject to restrictions on trading until October 28, 2025 in accordance with the policies of the TSX Venture Exchange. No commissions or finders fees were paid in connection with the offering. Following closing of the Offering, the Company has 172,860,622 Common Shares issued and outstanding. The Offering is subject to Final Acceptance by the TSX Venture Exchange.An Insider subscribed for an aggregate of 666,666 Units, representing gross proceeds of $20,000. The purchase of such Units is considered to be a related-party transaction under Multilateral Instrument...