Grizzly Discoveries Cancels Private Placement

Grizzly Discoveries Inc. (TSXV:GZD) announced the cancellation of a private placement previously announced on October 18, 2012. The Company is currently reviewing its explorations plans for the upcoming year.

As quoted in the press release:

Management has assessed that financing is currently not available at terms acceptable to the Company in regards to preserving as much as possible the Company’s corporate structure, and would cause unreasonable dilution to its existing shareholders.

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