Business
Grizzly Completes Private Placement for Gross Proceeds of $835,910
Edmonton, Alberta--(Newsfile Corp. - January 9, 2026) - Grizzly Discoveries Inc. (TSXV: GZD) (FS...
About this update from Grizzly Discoveries Inc
[{"type":"text","content":"Grizzly Completes Private Placement for Gross Proceeds of $835,910Edmonton, Alberta--(Newsfile Corp. - January 9, 2026) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (\"Grizzly\" or the \"Company\") announces that, between December 31, 2025 and January 8, 2026, it closed on a second tranche of a private placement originally announced on November 25, 2025 (the \"Offering\") by the issuance of 11,836,667 FT Units and 8,027,000 Units for additional gross proceeds of $595,910 in addition to the first tranche, announced on December 18, 2025, for gross proceeds of $240,000. In aggregate, the Company has issued 16,027,000 FT Units and 11,836,667 Units for aggregate gross proceeds of $835,910 in the Offering.The Offering consisted of up to 8,333,333 Units and up to 25,000,000 of any combination of Units and FT Units where each Unit consisted of one common share of the Company (\"Common Share\") and one non-transferable 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 shall be issued as a \"flow through share\" for the purposes of the Income Tax Act (Canada). The Units and FT Units were each offered at $0.03 per Unit or FT Unit. The Offering was offered to qualified subscribers in the Provinces of Alberta, British Columbia and Ontario and in other jurisdictions as the Company in its discretion determined, in reliance upon exemptions from the registration and prospectus requirements of applicable securities legislation. The Offering is now closed.In connection with the sale of 8,000,000 FT Units on December 17, 2025, the Company paid a cash finder's fee of $14,400 and issued 240,000 non-transferable finder's warrants, with equivalent terms to the Warrants (\"Finder Warrants\"), to GloRes Securities Inc., and 240,000 Finder Warrants to Marquest Asset Management Inc.An Insider subscribed for an aggregate of 6,667,000 FT Units, representing gross p...