Grizzly Discoveries completes first tranche of private placement

Grizzly Discoveries Inc. (TSXV: GZD) closed the first tranche of its private placement on March 17, 2026, raising gross proceeds of $541,100.

The Edmonton-based mineral exploration company sold 2,030,000 units and 13,430,000 flow-through units at $0.035 per unit. Each unit consists of one common share and one warrant, while each flow-through unit includes one common share and half a warrant.

The warrants allow holders to purchase additional common shares at $0.055. Unit warrants expire within 5 years or 30 days after the company notifies holders that shares traded at or above $0.10 for 10 consecutive days. Flow-through unit warrants have similar terms but expire within 3 years.

The private placement, originally announced February 27, 2026, consists of up to 7,142,856 units and up to 21,428,574 of any combination of units and flow-through units. Following this first tranche, up to 5,112,856 units and up to 7,998,574 of any combination remain available.

Grizzly paid finder's fees totaling $29,463 and issued 841,800 finder warrants to four firms: GloRes Securities Inc. received the largest portion with 685,800 warrants and $24,003 in fees. Hampton Securities Inc. and Raymond James Limited each received 60,000 warrants and $2,100. Ventum Financial Corp. received 36,000 warrants and $1,260.

The company now has 221,925,956 common shares outstanding. The new shares are subject to trading restrictions until July 18, 2026. The offering requires final acceptance from the TSX Venture Exchange.

Grizzly operates approximately 72,700 hectares of precious and base metals properties in southeastern British Columbia.

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