Grizzly Discoveries Inc. Closes First Tranche of Private Placement

Grizzly Discoveries Inc. (TSX VENTURE:GZD) (FRANKFURT:G6H) announced that it has closed the first tranche of a non-brokered private placement of an aggregate of 3,196,595 units at a price of $0.30 per Non-FT Unit and 1,400,000 flow-through units at a price of $0.35 per FT Unit, for gross proceeds of $1,448,978.50.

The press release is quoted as saying:

In British Columbia, Grizzly currently has four precious-base metal properties totaling over 235,000 acres. It currently holds more than 1 million acres in diamond properties which host diamondiferous kimberlites in the Buffalo Head Hills and Birch Mountains of Alberta. Grizzly has also acquired metallic and industrial mineral permits for potash totaling more than 1.43 million acres along the Saskatchewan-Alberta border.

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