Grizzly Discoveries Closes 1st Tranche of Private Placement

Grizzly announced a non-brokered private placement of 3,196,595 non flow- through units at $0.30 per unit and 1,400,000 flow-through units at $0.35 per unit for gross proceeds of $1,448,978.50.  (Amazing that the insiders did this financing at a 20% premium to the market price!!)

Subject to TSX approval, Grizzly will close on an additional $230,021.40 for a total of $1,679,000 – enough funds to keep drilling through the summer.  There will be a steady flow of drill results to come.

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