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Grizzly Announces Private Placement for Drilling at Its Gold Project near Greenwood, British Columbia
Edmonton, Alberta--(Newsfile Corp. - June 24, 2020) -  Grizzly Discoveries Inc. (TSXV: G...
About this update from Grizzly Discoveries Inc
[{"type":"text","content":"Grizzly Announces Private Placement for Drilling at Its Gold Project near Greenwood, British ColumbiaEdmonton, Alberta--(Newsfile Corp. - June 24, 2020) -  Grizzly Discoveries Inc. (TSXV: GZD) (OTCQB: GZDIF) (FSE: G6H) (\"Grizzly\" or the \"Company\") is pleased to announce a private placement (the \"Private Placement\") of up to 16,000,000 Units (as defined below) 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 $0.12 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, any Units sold to purchasers referred to the Company by registered broker dealers, limited market dealers, or other eligible arm's length persons (individually, a \"Finder\") may result in a cash commission in an amount equal to 7% of the gross proceeds of the Units and FT Units sold to such referred purchasers (\"Finder fees\"), to be paid out of the gross proceeds of Units to the Finder at closing. As additional consideration, the Company may issue to the Finder Common Share purchase warrants (the \"Finder Warrants\") entitling the Finder to purchase an additional number of Common Shares equal to 7% of the aggregate number of Units and FT Units sold by the Finder in the Private Placement, on the same terms as the Warrants. Subject to regulatory approval, each Finder Warrant will ...