Grizzly Discoveries ( (TSE:GZD) ) has provided an announcement.
Grizzly Discoveries Inc. has announced a private placement offering aimed at raising up to $1,000,000, alongside a debt settlement agreement to clear $500,000 owed to APEX Geoscience Ltd. The funds raised will be allocated towards mineral property exploration, rights, and permits, as well as corporate overhead. Additionally, Grizzly has secured four new five-year drilling permits for its Greenwood project, enhancing its exploration capabilities and potentially strengthening its position in the mineral exploration market.
Spark’s Take on TSE:GZD Stock
According to Spark, TipRanks’ AI Analyst, TSE:GZD is a Underperform.
Grizzly Discoveries is currently facing severe financial difficulties, with no revenue and persistent losses affecting its performance. The solid equity base is a positive aspect, but the lack of cash flow and reliance on financing are significant risks. Technical analysis suggests a stagnant market sentiment, while the valuation reflects ongoing financial challenges without profitability or dividend distribution. These factors result in a low overall stock score, indicating a need for substantial improvement in revenue generation and financial management.
To see Spark’s full report on TSE:GZD stock, click here.
More about Grizzly Discoveries
Grizzly Discoveries Inc. operates in the mineral exploration industry, focusing on the discovery and development of precious and critical minerals. The company is engaged in projects primarily in Alberta, British Columbia, and Ontario, with a significant emphasis on the Greenwood Precious and Critical Minerals Project.
YTD Price Performance: 15.00%
Average Trading Volume: 55,872
Technical Sentiment Signal: Buy
Current Market Cap: C$3.67M
Learn more about GZD stock on TipRanks’ Stock Analysis page.