Grizzly Closes Private Placement and Completes Midway-Beaverdell Option
The completed option gives Grizzly full ownership of the Midway-Beaverdell mineral rights, subject to retained royalty and rock rights.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Grizzly Discoveries (GZDIF) closed a private placement raising $359,875 in gross proceeds and completed its Midway-Beaverdell mineral rights option. The offering issued 1,000,000 Units at $0.05, 325,000 flow-through FT Units at $0.055 and 4,866,668 critical-mineral flow-through CMFT Units at $0.06. Each Unit included one share and one warrant; FT and CMFT Units each included one share and half a warrant. Grizzly paid $21,692 in finder fees and issued 328,416 Finder Warrants. Final TSX Venture Exchange acceptance remains pending.
On October 13, 2026, Grizzly paid $5,000 and issued 100,000 shares to Daniel Hurd to complete the option. It now owns 100% of the mineral rights covering 761.25 hectares in British Columbia's Greenwood Mining District. Hurd retains a 1% net smelter return royalty and rights to quarriable rocks. Grizzly intends to direct FT and CMFT proceeds to exploration, with CMFT funds targeting critical minerals.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointPrivate placement closed with $359,875 in gross proceeds. 4.7% of market cap
- Minor pointMidway-Beaverdell option completion secured 100% ownership of mineral rights covering 761.25 hectares.
- Minor point. Forward-looking: it has not happened yet and may not happen.Grizzly intends FT proceeds for exploration and CMFT proceeds for exploration targeting critical minerals.
Negative
- Minor point1,000,000 Units at $0.05 each issued one share and one warrant per Unit, diluting holders.
- Minor point325,000 FT Units at $0.055 each issued one share and half a warrant per Unit.
- Minor point4,866,668 CMFT Units at $0.06 each issued one share and half a warrant per Unit.
- Minor pointCash finder fees totaled $21,692 for the offering.
- Minor point328,416 Finder Warrants add potential share dilution at a $0.12 exercise price.
3 minor points
- Minor pointOption completion cost $5,000 and 100,000 common shares paid and issued to Daniel Hurd.
- Minor pointDaniel Hurd retains a 1% net smelter return royalty and rights to quarriable rocks.
- Minor pointThe offering remains subject to final TSX Venture Exchange acceptance.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Edmonton, Alberta--(Newsfile Corp. - October 16, 2026) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company") announces that it closed on a private placement originally announced on September 15, 2026 (the "Offering") by the issuance of 1,000,000 Units, 325,000 FT Units, and 4,866,668 CMFT Units for gross proceeds of
PRIVATE PLACEMENT
Each Unit, priced at
The Offering was offered to qualified subscribers in the Provinces of Alberta, British Columbia and Ontario and in other jurisdictions as the Company in its discretion determined, in reliance upon exemptions from the registration and prospectus requirements of applicable securities legislation. The Offering is now closed.
The Company intends to use the proceeds of the sale of the Units for mineral property exploration and general working capital the proceeds from the sale of FT Units for mineral property exploration, and the proceeds from the sale of the CMFT Units for mineral property exploration specifically targeting Critical Minerals (as defined in the Income Tax Act (Canada).
In connection with the sale of 325,000 FT Units and 4,866,668 CMFT Units, the Company paid cash finders fees totaling
Following closing of the Offering, the Company has 240,313,037 common shares issued and outstanding. The Common Shares and any Common Shares issued on exercise of the Warrants and Finder Warrants are subject to restrictions on trading for four months from the date of issuance, expiring on February 17, 2027. The Offering is subject to final acceptance of the TSX Venture Exchange.
COMPLETION OF MIDWAY-BEAVERDELL OPTION
On October 13, 2026, the Company paid
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President
Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4
Email : info@grizzlydiscoveries.com
For further information, please visit our website at www.grizzlydiscoveries.com or contact:
Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email: nancy@grizzlydiscoveries.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution concerning forward-looking information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319523
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much did Grizzly Discoveries raise in its completed private placement?
Grizzly raised $359,875 in gross proceeds. It issued 1,000,000 Units at $0.05 each, 325,000 FT Units at $0.055 each and 4,866,668 CMFT Units at $0.06 each. The offering is closed but remains subject to final TSX Venture Exchange acceptance.
What did Grizzly Discoveries acquire by completing the Midway-Beaverdell option?
Grizzly now owns 100% of the Midway-Beaverdell mineral rights covering 761.25 hectares in British Columbia's Greenwood Mining District. It completed the option on October 13, 2026, by paying Daniel Hurd $5,000 and issuing him 100,000 common shares. Hurd retains a 1% net smelter return royalty and rights to quarriable rocks.
What are the exercise and expiry terms of Grizzly Discoveries' private placement warrants?
The warrants permit purchases of common shares at $0.12 per share and expire at the earlier of 24 months from issuance or 30 days after a qualifying company notice. Grizzly can give that notice when the shares' volume-weighted average trading price on the TSX Venture Exchange reaches at least CA$0.18 for 10 consecutive trading days. Finder Warrants have the same terms.