Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
The latest announcement is out from Grizzly Discoveries ( (TSE:GZD) ).
Grizzly Discoveries has closed the first tranche of its previously announced non-brokered private placement, raising gross proceeds of $240,000 through the sale of 8 million flow-through units at $0.03 per unit. Each flow-through unit comprises one common share and half a warrant exercisable at $0.05, with the overall offering still open for additional unit and flow-through unit subscriptions, subject to final TSX Venture Exchange acceptance, and resulting in 186.6 million shares now outstanding and new trading restrictions on securities issued under the placement.
Spark’s Take on TSE:GZD Stock
According to Spark, TipRanks’ AI Analyst, TSE:GZD is a Underperform.
Grizzly Discoveries is facing severe financial difficulties, with no revenue and persistent losses impacting its performance. The technical analysis indicates a stagnant market sentiment, and the valuation reflects ongoing financial challenges. However, the company’s recent corporate actions, including a private placement and new drilling permits, offer some potential for future improvement. Overall, the stock score is low, 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. is a diversified Canadian mineral exploration company listed on the TSX Venture Exchange, focused on advancing approximately 72,700 hectares of precious and base metal properties in southeastern British Columbia. The company is led by an experienced junior resource sector management team with a track record of moving projects from early exploration through to feasibility, positioning it within the early-stage exploration segment of the mining industry.
Average Trading Volume: 110,646
Technical Sentiment Signal: Sell
Current Market Cap: C$4.47M
For a thorough assessment of GZD stock, go to TipRanks’ Stock Analysis page.