Goliath Resources Expands Financing with Strategic Investor Support

Goliath Resources Enhances Financing Strategy

Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) is excited to reveal significant developments in its financial strategy. Recently, the company announced an increase in its non-brokered flow-through financing, raising the total from $12.75 million to an impressive $14.725 million. A notable contributor to this financing is Mr. Larry Childress, who has secured 1,000,000 common shares through Childress Family LP, marking a key investment in the company's mission.

First Tranche and Strategic Partnerships

In conjunction with this new capacity, Goliath has successfully closed $9,562,308 in the first tranche of the financing deal. Adding to the excitement, a prominent Global Commodity Group based in Singapore has also acquired 1,600,000 common shares, boosting their overall stake in Goliath to 3.5%. The final tranche of this financing initiative is predicted to conclude in the near future, signaling further positive momentum for Goliath.

Meet Mr. Larry Childress

Mr. Larry Childress brings a wealth of experience to the table. With an MS Degree in Mining Engineering, he has an illustrious career marked by the establishment of an oil exploration firm in 1980, which led to the discovery of several significant oil fields in the western Kansas area. Over the last four decades, Mr. Childress has become a formidable investor in various mineral projects, holding the position of the second-largest shareholder in Fireweed Metals with approximately 22 million shares. His other investments include companies like Filo and WA1 Resources.

Offering Details and Financial Usage

The details of the offering showcase a combination of Charity Flow-Through shares (CFT) priced at $1.975 each without warrants and Flow-Through shares (FT) sold at $1.44 each, which also excludes warrants. These shares qualify as flow-through shares as defined by the Canadian Income Tax Act. The initial tranche involved the issuance of 3,018,000 CFT shares, yielding a total of $5,960,550, alongside 2,501,221 FT shares for $3,601,758, cumulatively bringing in $9,562,308.

Goliath intends to allocate these funds towards general operating expenses and various exploration programs associated with its properties situated in the renowned Golden Triangle region of northwestern British Columbia. Furthermore, the money raised will be utilized for Canadian exploration expenses as recognized by tax legislation, aiming to execute projects by the end of 2025.

Implications for Goliath Resources

These investments indicate a solid commitment from stakeholders and a proactive approach towards enhancing the company's operations. Goliath Resources is poised to leverage these funds for substantial advancements in their projects, specifically in vital geopolitical environments that are favorable for mining in Canada. Notably, Goliath’s cornerstone shareholders, including Crescat Capital and Mr. Rob McEwen, exemplify the strong support Goliath enjoys in the market.

Regulatory Compliance and Investor Considerations

Goliath has adhered to all necessary regulatory requirements concerning this offering. It has paid finders' fees totaling 6%, amounting to $184,663.09 in cash and 103,093 finder warrants, which are subject to compliance under the TSX Venture Exchange rules. Each security issued will mandate a holding period of four months and a day following issuance. The successful completion of this offering is contingent upon acquiring requisite regulatory approvals, emphasizing Goliath's commitment to transparency and investor safety.

About Goliath Resources Limited

Goliath Resources Limited is not just an explorer; it is a leader in precious metals projects located within Canada's Golden Triangle. This district is renowned for its rich geological legacy and political stability, making it a prime location for mining ventures. The company actively participates in collaborative efforts, particularly with the Colorado School of Mines and Virginia Tech through an organization called CASERM. Its strategic alliances and robust shareholder base indicate a well-rounded support system that fortifies Goliath's future endeavors.

For Additional Information

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 purpose of the financing increase by Goliath Resources?

The increased financing allows Goliath to support operational expenses and expand exploration activities in their properties.

Who is Mr. Larry Childress and what role does he play?

Mr. Childress is a strategic investor who purchased 1,000,000 shares, bringing extensive experience in mining and oil exploration.

What are the specifics of the shares offered in this financing?

The offering includes Charity Flow-Through shares at $1.975 and Flow-Through shares at $1.44, both without warrants.

Where will the financing proceeds be utilized?

The proceeds will fund general operating costs and exploration programs in the Golden Triangle area of British Columbia.

How does Goliath ensure regulatory compliance?

Goliath is committed to fulfilling all regulatory requirements, including holding periods for securities and necessary approvals for offerings.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.