Grizzly Discoveries Inc. (TSXV: GZD) has issued a clarification to its September 15, 2026 private placement announcement, correcting the originally stated use of proceeds for its non-brokered offering of Units, FT Units, and CMFT Units. The offering targets gross proceeds of up to $2 million if fully subscribed. The correction specifies how proceeds from each unit class will be allocated, an important distinction for investors evaluating the company's financing plans. The offering remains subject to acceptance by the TSX Venture Exchange.

Key Points

  • Grizzly Discoveries Inc. (TSXV: GZD | FSE: G6H | OTCQB: GZDIF) issued a clarifying disclosure on September 29, 2026
  • The company corrected the intended use of proceeds from its September 15, 2026 private placement announcement
  • The offering seeks gross proceeds of up to $2 million across three unit classes: Units, FT Units, and CMFT Units
  • Investors should watch for TSX Venture Exchange acceptance of the offering before it can proceed

How Grizzly Discoveries Plans to Allocate Proceeds Across Three Unit Classes

The clarification release states that proceeds from the sale of Units will be directed toward general working capital and exploration of the company's mineral properties. Proceeds from FT Units will be applied exclusively to mineral property exploration, while proceeds from CMFT Units are earmarked specifically for exploration targeting critical minerals as defined under the Income Tax Act (Canada). The company did not disclose what proportion of the $2 million target is expected from each unit class, nor did it specify individual pricing or subscription levels within this announcement.

Grizzly's Southeastern British Columbia Mineral Portfolio

Grizzly Discoveries is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange. The company holds approximately 72,700 hectares — roughly 180,000 acres — of precious and base metals properties in southeastern British Columbia. The release describes Grizzly's management team as experienced in advancing junior resource projects from early-stage exploration through to feasibility. The company's focus on critical minerals through its CMFT Unit class may reflect broader industry interest in materials identified under Canadian federal tax frameworks.

TSX Venture Exchange Acceptance Remains a Condition of the Offering

The offering is subject to acceptance by the TSX Venture Exchange, meaning it is not yet formally completed. The company has not disclosed a closing date or timeline for regulatory acceptance in this announcement. The clarification does not alter the originally announced maximum gross proceeds of up to $2 million or the non-brokered structure of the offering. The immediate share price impact was not clear from available public information. Investors may be watching for further updates on the offering's status and final subscription outcome.