Grizzly Discoveries (TSX.V-GZD) (OTCBB-GZDIF) has closed the first tranche of their private placement issuing 2,794,680 units at a price of $0.05 per unit for gross proceeds of $139,734. Each unit consists of one common share and one non-transferable warrant. Each warrant entitles the holder to acquire one additional shares at an exercise price of $0.075 per share.
200,000 of the 2,794,680 units sold were purchased by insiders of the Company. No commissions or finders fees were paid. The proceeds will be used for general working capital.