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Grizzly Announces Private Placement, Debt Settlement, and Provides Update on The Greenwood Precious and Critical Minerals Project
Edmonton, Alberta--(Newsfile Corp. - April 29, 2025) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE...
About this update from Grizzly Discoveries Inc
[{"type":"text","content":"Grizzly Announces Private Placement, Debt Settlement, and Provides Update on The Greenwood Precious and Critical Minerals ProjectEdmonton, Alberta--(Newsfile Corp. - April 29, 2025) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (\"Grizzly\" or the \"Company\") is pleased to announce a private placement (the \"Offering\") of Units and FT Units for aggregate gross proceeds of up to $1,000,000 if fully subscribed. The Offering is concurrent with an agreement to settle $500,000 in outstanding accounts payable debt to APEX Geoscience Ltd. (\"APEX\"), the Company's primary geological contractor.Private Placement OfferingThe Offering consists of up to 8,333,333 Units and up to 25,000,000 of any combination of Units and FT Units, with the Units and FT Units each priced at $0.03 per Unit and FT Unit. Each Unit shall consist 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 shall consist of one Common Share and one half of one Warrant, each of which shall be issued as a \"flow through share\" for the purposes of the Income Tax Act (Canada). The Offering is being offered to qualified subscribers in the Provinces of Alberta, British Columbia and Ontario and in other jurisdictions as the Company may in its discretion determine, in reliance upon exemptions from the registration and prospectus requirements of applicable securities legislation.The Company intends to use the proceeds of the Offering, if fully subscribed with the maximum of 25,000,000 in FT Units and 8,333,333 Units, as follows:Mineral Property Exploration $ 750,000Mineral Rights and Exploration Permits  80,000 Working capitalOutstanding management fees to Officers $ 12,000Other accounts payable 65,000$ 77,000 Corporate Overhead Management fees to Officers $ 18,000(3 months)Other Corporate Overhead  75,000$ 93,000 Maximum proceeds $ 1,000,000 &...