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Grizzly Discoveries Raises $359.9K and Takes 100% Ownership of Midway-Beaverdell

MixedLow impact
GZDCA$0.0400 −11.11%

Grizzly Discoveries Inc. (TSXV:GZD) has closed a private placement financing, raising $359,875 to fund its ongoing mineral exploration and general working capital needs. Alongside the financing, the junior exploration company completed its option agreement to secure a 100% interest in the mineral rights for the Midway-Beaverdell property.

The transaction consolidates full ownership of Midway-Beaverdell, giving the company complete control over future development and exploration activities. The placement involved issuing standard units priced at $0.05 with attached $0.12 warrants, as well as flow-through units priced at $0.055 and $0.06 intended for exploration and critical minerals work. Following the offering, Grizzly Discoveries has 240,313,037 shares outstanding. Shares of the company fell 11.11% to 0.04 CAD following the update.

Investors will be watching for upcoming exploration updates and potential drilling results to see how the company utilizes its expanded capital base and unified property rights.

Key points

  • Grizzly Discoveries Inc. raised $359,875 in private placement proceeds for exploration and working capital.
  • The company completed its option to acquire 100% of the mineral rights at the Midway-Beaverdell property.
  • Units were issued at $0.05 with $0.12 warrants, alongside flow-through units priced at $0.055 and $0.06.
  • Total shares outstanding increased to 240,313,037 following the completed financing.
  • Shares of TSXV:GZD declined 11.11% to 0.04 CAD on the day of the announcement.

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Questions and answers

How much money did Grizzly Discoveries raise?

Grizzly Discoveries raised $359,875 through a private placement of units and flow-through units to fund exploration work and working capital.

What property did Grizzly Discoveries acquire full control of?

Grizzly Discoveries completed an option agreement to obtain 100% ownership of the mineral rights for the Midway-Beaverdell property.

How many shares does Grizzly Discoveries now have outstanding?

Following the private placement, Grizzly Discoveries has 240,313,037 shares outstanding.