Grizzly Discoveries Closes CA$360,000 Private Placement, Midway-Beaverdell Option

05:00 PM EDT, 10/16/2026 (MT Newswires) -- Grizzly Discoveries (GZD.V) after trade Friday said it has closed a private placement, issuing one-million units, 325,000 flow-through units, and about 4.9-million critical metals flow-through units for gross proceeds of CA$359,875. The company added that it also completed the Midway-Beaverdell option agreement originally entered into in October 2023. Proceeds from the regular units will be used for mineral exploration and general working capital. Funds from the flow-through units and critical metals flow-through units will support mineral exploration, with the latter specifically targeting critical minerals, the company said. "Following closing of the offering, the company has 240,313,037 common shares issued and outstanding," it added. The common shares, along with any common shares issued through the exercise of warrants and finder warrants, are subject to a four-month trading restriction expiring Feb. 17, 2027. The offering remains subject to final acceptance by the TSX Venture Exchange, the company said. Grizzly Discoveries closed down 11.1% at CA$0.04 on the TSX Venture Exchange.