By Devika Patel
Knoxville, Tenn., July 7 - Grizzly Discoveries Inc. said Tuesday that it settled the first tranche of a C$1.68 million non-brokered private placement of units, raising C$1.45 million.
The company sold 3,196,595 units at C$0.30 per unit for C$958,979 and 1.4 million flow-through units at C$0.35 each for C$490,000. It will sell additional 766,738 units for C$230,021 in the second tranche.
Each unit consists of one common share and one warrant, with each warrant exercisable at C$0.50 until July 5, 2011.
Each flow-through unit consists of one flow-through common share and one warrant, with each warrant exercisable at C$0.60 until July 5, 2011.
Proceeds will be used for exploration, working capital and general corporate purposes.
The diamonds and precious metals explorer is based in Edmonton, Alta.
| Issuer: | Grizzly Discoveries Inc.
|
| Issue: | Flow-through units of one flow-through common share and one warrant, units of one common share and one warrant
|
| Amount: | C$1,679,000
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | July 5, 2011
|
| Agent: | Non-brokered
|
| Settlement date: | July 6 (for C$1,448,979)
|
| Stock symbol: | TSX Venture: GZD
|
| Stock price: | C$0.25 at close July 6
|
| Market capitalization: | C$6.77 million
|
|
|
| Units
|
| Amount: | C$1,189,000
|
| Units: | 3,963,333
|
| Price: | C$0.30
|
| Warrant strike price: | C$0.50
|
|
|
| Flow-through units
|
| Amount: | C$490,000
|
| Units: | 1.4 million
|
| Price: | C$0.35
|
| Warrant strike price: | C$0.60
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
