Business
Grizzly Announces Private Placement of Units
Edmonton, Alberta--(Newsfile Corp. - September 6, 2017) - Grizzly Discoveries Inc.  (TSX...
About this update from Grizzly Discoveries Inc
[{"type":"text","content":"Grizzly Announces Private Placement of UnitsEdmonton, Alberta--(Newsfile Corp. - September 6, 2017) - Grizzly Discoveries Inc.  (TSXV: GZD) (OTC Pink: GZDIF) (FSE: G6H) (\"Grizzly\" or the \"Company\") is pleased to announce a private placement (the \"Private Placement\") of up to 5,000,000 units (the \"Units\") at a price of $0.05 per Unit, for gross proceeds of up to $250,000. Each Unit consists of one common share of the Company (\"Common Share\") and one non-transferable warrant (\"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.A portion of the Private Placement may be completed in accordance with the exemption set out in Alberta Rule 45-516 Prospectus Exemptions for Retail Investors and Existing Security Holders, or similar regulations in other jurisdictions, (the \"Security Holder Exemption\") pursuant to the terms and conditions of this news release and Alberta Rule 45-516. Grizzly shall make the pro-rata offer available to all persons in eligible jurisdictions who, as of the record date of September 1, 2017, held at least one Common Share. In accordance with the requirements of the Security Holder Exemption, the Company confirms there is no material fact or material change related to the Company which has not been generally disclosed. The Private Placement securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the \"1933 Act\"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States. In connection with the Private Placement, where permitted by applicable securities legislation, any Units sold to purchasers referred to the Company b...