Grizzly Discoveries Inc. has launched a private placement offering aiming to raise up to $2 million in gross proceeds through the issuance of standard units, flow-through units and critical mineral flow-through units.

The conditional financing consists of between 35 million and 40 million total units, depending on the specific combination sold. Standard units are priced at $0.05 each and comprise one common share alongside a purchase warrant exercisable at $0.12 for up to 24 months. Flow-through units are priced at $0.055, while critical mineral flow-through units are priced at $0.06. Each flow-through and critical mineral flow-through unit includes one-half of a common share purchase warrant carrying the same $0.12 exercise price.

All warrants issued under the offering are subject to an accelerated expiry clause. The warrants will expire early if the company’s volume-weighted average trading price reaches or exceeds CA$0.18 on the TSX Venture Exchange for 10 consecutive trading days, or otherwise after two years.

The arrangement remains subject to acceptance by the TSX Venture Exchange and is being offered to qualified subscribers in Alberta, British Columbia and Ontario, with potential finders' fees payable in cash or non-transferrable warrants in accordance with exchange policies. Grizzly intends to close the offering in mid-October in two or more tranches, with no minimum subscription required. Common shares and any shares issued upon warrant exercise will be subject to a four-month and one-day hold period from the date of issuance.

Funds raised from standard units will support general working capital and mineral rights acquisition. Meanwhile, proceeds from the flow-through units and critical mineral flow-through units are earmarked specifically for exploration work across the company's mineral properties, including targeted programs for critical minerals as defined by the Income Tax Act.

The primary exploration focus for Grizzly centers on the Greenwood project, spanning approximately 72,700 hectares, or roughly 180,000 acres, of precious and base metals properties located in southeastern British Columbia.

Read the full announcement: Grizzly Announces Private Placement