Grizzly Discoveries raises $835,910 in private placement financing

Grizzly Discoveries Inc. (TSXV: GZD) completed a private placement offering that raised gross proceeds of $835,910, the company announced January 9.

The Edmonton-based mineral exploration company closed the second tranche of the offering between December 31, 2025 and January 8, 2026, issuing 11,836,667 flow-through units and 8,027,000 units for additional gross proceeds of $595,910. Combined with the first tranche announced December 18, 2025, which raised $240,000, the company issued a total of 16,027,000 flow-through units and 11,836,667 units.

Each unit and flow-through unit was priced at $0.03 and consisted of one common share and warrant entitlements. The warrants allow holders to purchase additional common shares for $0.05, expiring either 30 days after the company provides written notice that shares have traded at or above $0.10 for 10 consecutive days, or 24 months from issuance.

An insider purchased 6,667,000 flow-through units representing $200,010 in gross proceeds. The company paid finder's fees of $14,400 and issued 240,000 finder's warrants each to GloRes Securities Inc. and Marquest Asset Management Inc.

Following the offering's completion, Grizzly has 206,465,956 common shares outstanding. The new shares are subject to trading restrictions for four months, expiring between April 18, 2026 and May 9, 2026.

The company plans to allocate $500,000 of the proceeds to mineral property exploration, $32,500 to mineral rights and exploration permits, $112,500 to working capital including outstanding management fees and accounts payable, and $190,910 to corporate overhead covering approximately six months of operations.

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

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