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Grizzly Discoveries to Raise $1.08 Million Via a Private Placement Offering

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Grizzly Discoveries (GZD.V) on Wednesday said it is launching a private placement offering of units, flow-through (FT) units, and CMFT units for proceeds of up to $1.08 million.

The offering consists of up to 12.3-million units and up to 3.1-million of any combination of units, FT units and CMFT units. Each unit, priced at $0.065 apiece, consists of a share and a three-year warrant to buy a share for $0.12.

Each FT unit, priced at $0.08, is made up of a share and one half of a three-year warrant to buy a share for $0.12.

Each CMFT unit, priced at $0.09, is made up of a flow-through share and one half of a three-year warrant to buy a flow-through share for $0.12.

Proceeds will be used for general working capital, mineral rights acquisition. Any proceeds from the FT units will be used for exploration of its mineral properties, and any proceeds from the CMFT units will be used for the exploration of its mineral properties specifically targeting critical minerals.

Shares of the company were last seen unchanged at $0.07 on the TSX Venture Exchange.

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