Goliath Resources Expands Financing to Over $16 Million
Goliath Resources Expands Non-Brokered Private Placement
TORONTO, Canada — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) has announced an increase in its non-brokered flow-through financing from $15,725,500 to an impressive $16,120,500. This move signifies Goliath's commitment to advancing its exploration initiatives in the promising Golden Triangle in British Columbia.
Details of the Offering
The private placement will include two types of shares: Charity Flow-Through shares (CFT) priced at $1.975 each and Flow-Through shares (FT) available at $1.44 each, both without warrants. These share types are tailored to meet specific Canadian income tax regulations, ensuring that investors benefit while supporting exploration.
The initial tranche, which was finalized on September 13, 2024, raised approximately $9.56 million, consisting of 3,018,000 CFT shares and 2,501,221 FT shares. A subsequent tranche is set to close by October 2, 2024, signaling a robust interest in Goliath’s share offerings.
Utilization of Proceeds
Goliath intends to direct the funds raised from this offering towards exploration activities across its properties situated in the Golden Triangle area. This region is renowned for its rich mineral deposits and excellent infrastructure, making it an optimal site for investment and development.
The proceeds will be applied to various Canadian exploration expenses. These include flow-through mining expenditures, which are outlined under specific tax regulations. Notably, BC residents investing in these shares can take advantage of a provincial non-refundable tax credit of 20% on flow-through mining expenditures, aimed at offsetting their investments.
Potential Finder's Fees
In line with this financing effort, Goliath may offer finder’s fees for completed orders, structured as 6% cash and 6% finder warrants, which would be valid for 12 months. The company has already disbursed 6% cash fees totaling approximately $184,663 in connection with the first tranche, alongside finder warrants set at different pricing options.
About Goliath Resources Limited
Goliath Resources Limited is an aggressive explorer of precious metals situated in British Columbia’s famed Golden Triangle. This company is well-positioned in a favorable geological setting, supported by essential infrastructure that enables effective mining operations.
Active participation and support from prominent shareholders such as Crescat Capital, Rob McEwen, and Eric Sprott further bolster Goliath’s market position. Additionally, the partnership with CASERM, a collaborative venture involving renowned educational institutions, strengthens its commitment to sustainable exploration practices.
Contact Information
For any inquiries, interested parties can reach out to:
Goliath Resources Limited
Mr. Roger Rosmus
Founder and CEO
Tel: +1.416.488.2887
roger@goliathresources.com
www.goliathresourcesltd.com
Frequently Asked Questions
What is the total amount Goliath Resources is raising?
Goliath Resources is raising a total of $16,120,500 through its non-brokered private placement.
What types of shares are being offered?
The company is offering Charity Flow-Through shares at $1.975 each and Flow-Through shares at $1.44 each, both without warrants.
Where will the funds from the placement be used?
The funds will be used primarily for exploration programs on Goliath's properties in the Golden Triangle region of British Columbia.
What is the significance of flow-through shares?
Flow-through shares allow investors to write off eligible exploration expenses against their taxable income, providing a tax incentive while funding Goliath's exploration activities.
Who are some of Goliath's strategic shareholders?
Strategic shareholders include Crescat Capital, Rob McEwen, Eric Sprott, and other notable investors committed to Goliath's growth and exploration endeavors.
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