CARSON CITY, NV--(Marketwire -02/23/12)- Grizzly Gold Corp. (OTCQB: GRZG.OB - News) (Pinksheets: GRZG.OB - News) is pleased to provide a corporate update for its shareholders. Grizzly Gold Corp. is a U.S.-based natural resource company with a primary focus on the discovery and development of gold properties in the Nevada area.
Grizzly's strategic initiatives are to undertake cost efficient and effective exploration activities to discover mineralization and potentially, mineral reserves.
Grizzly has acquired 100% rights to the mining interest on the LB/Vixen property located in Humboldt County, Nevada, which currently consists of 61 unpatented claims.
Grizzly has also closed a private placement of 3,500,000 common shares at $0.10 per share for a total offering price of $350,000.
Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in the company's filings with the Securities and Exchange Commission, and may be accessed through the SEC's website at http://www.sec.gov.
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