EDMONTON, ALBERTA--(Marketwire - March 15, 2013) - Grizzly Discoveries Inc. (TSX VENTURE:GZD)(OTCQX:GZDIF)(FRANKFURT:G6H) ("Grizzly" or the "Company") is pleased to announce the appointment of Mr. Ian Lambert as Chief Operating Officer of the Company effective immediately.
Mr. Lambert is well known in the resource sector, having over 30 years' experience in resource exploration and public company management. Mr. Lambert was formerly CEO and Director for twenty-one years of Trade Winds Ventures Inc. ("Trade Winds"), a TSX Venture Top 50 company which was developing a multi-million ounce gold project in Ontario prior to the sale of Trade Winds to Detour Gold Corporation in a transaction that valued Trade Winds at $84 Million. In addition to precious metals and mineral exploration and development, Mr. Lambert's experience includes exposure to a wide range of business activities including oil and gas development, marketing, manufacturing, and software development.
Mr. Brian Testo, Grizzly CEO, stated, "I would like to welcome Mr. Lambert to Grizzly in his role as COO at this important point in the Company's development. Mr. Lambert's primary focus will be on the advancement of our Alberta Potash Project. His experience and contacts within the resource sector will lead the Company as it considers new opportunities for the advancement of our prospective Alberta Potash assets."
In conjunction with his appointment, the Company has granted Mr. Lambert, subject to regulatory approval, incentive stock options pursuant to the Company's stock option plan to acquire up to 300,000 common shares of the Company ("Common Shares") at an exercise price of $0.10 per Common Share, or such other price acceptable to the TSX Venture Exchange.
Results of Grizzly's Annual General and Special Meeting
The Company held its annual general and special meeting of its shareholders on March 8, 2013, and is pleased to announce the re-election of all incumbent directors, as well as the passing of special resolutions approving the Company's 10% rolling stock option plan, and the repricing of certain stock options held by insiders of the Company, as detailed in the Management Information Circular dated February 11, 2013 available under the Company's profile on SEDAR.
About Grizzly Discoveries Inc.
Grizzly is a diversified Canadian mineral exploration company listed on the TSX Venture Exchange with 48.7 million shares issued, focused on developing significant Potash assets in Alberta. The Company holds, or has an interest in: metallic and industrial mineral permits for potash totaling more than 900,000 acres along the Alberta-Saskatchewan border; over 235,000 acres of precious-base metal properties in British Columbia; and more than 600,000 acres in properties which host diamondiferous kimberlites in the Buffalo Head Hills and Birch Mountains of Alberta.
On behalf of the Board
Grizzly Discoveries Inc.
Brian Testo, President
For further information, please visit our website at http://www.grizzlydiscoveries.com.
Caution concerning forward-looking information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.