Goliath Resources Increases Placement to $15.7 Million With Key Investor

Goliath Resources Positions Itself for Growth

Recently, Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) made a significant announcement regarding its financing efforts and strategic investments. The company revealed that it enhanced its non-brokered flow-through financing from $14,725,000 to an impressive $15,725,500. This increase is primarily due to strategic investor Mr. Larry Childress, who raised his share purchase from 1,000,000 to 1,400,000 shares through Childress Family LP.

Meet Mr. Larry Childress

Mr. Larry Childress is not just an investor; he is a seasoned professional with a Master's degree in Mining Engineering. His career launched in 1980 when he founded an oil exploration company. Over the years, he made notable discoveries, significantly impacting oilfields in western Kansas. With over four decades of experience investing in mineral projects, he brings a wealth of knowledge to Goliath. Currently, he holds approximately 22 million shares of Fireweed Metals and has stakes in several other companies, affirming his reputation as a significant player in the mining industry.

Details of the Offering

The non-brokered private placement comprises two main offerings: Charity Flow-Through shares (CFT) priced at $1.975 each and Flow-Through shares (FT) priced at $1.44 each. Importantly, both types of shares come without warrants, and they qualify under the Income Tax Act in Canada. In the first tranche, which closed recently, Goliath secured $9,562,308 through the sale of 3,018,000 CFT shares and 2,501,221 FT shares. The final tranche is set to close in the upcoming months.

Understanding the Use of Proceeds

The capital raised from this offering will primarily fund exploration programs on Goliath's properties, particularly in the rich geological areas of British Columbia's renowned Golden Triangle. The proceeds from both the CFT and FT offering are categorized under Canadian exploration expenses, which are essential for the company's growth and expansion in the mineral sector.

Benefits of Flow-Through Shares in British Columbia

Investing in flow-through shares not only supports Goliath’s exploration activities but also provides significant tax benefits to investors. The British Columbia Super Flow allows residents to claim a 20% provincial non-refundable tax credit for their investments in flow-through shares. This incentive encourages capital investment in the mining sector, fostering industry growth and exploration.

Finder’s Fees and Regulatory Compliance

Goliath Resources may incur finders' fees consisting of 6% cash for certain subscription orders, along with finder warrants valid for a year. For the first tranche, Goliath paid out $184,663.09 in cash and issued 103,093 finder warrants, showcasing a commitment to incentivizing investor participation. Furthermore, all securities from the offerings are subject to a hold period to ensure compliance with TSX Venture Exchange policies.

About Goliath Resources Limited

Goliath Resources is an innovative exploration company focused on precious metals in the Golden Triangle region of British Columbia. The company prides itself on conducting its projects in prime geological settings within politically stable environments. Goliath is actively involved in communities and works closely with institutions such as the Colorado School of Mines and Virginia Tech through CASERM. Recognized investors in Goliath include Crescat Capital, Rob McEwen, and Eric Sprott, emphasizing its strong backing in the mining sector.

Contact Information

Goliath Resources Limited
CEO: Mr. Roger Rosmus
Tel: +1.416.488.2887
Email: roger@goliathresources.com
Website: www.goliathresourcesltd.com

Frequently Asked Questions

What is the total amount raised in the financing effort?

Goliath Resources has raised a total of $15,725,500 in its financing effort.

Who is Mr. Larry Childress?

Mr. Childress is a strategic investor with a background in mining engineering and extensive experience in mineral investments.

What types of shares are being offered?

The offering includes Charity Flow-Through shares priced at $1.975 and Flow-Through shares priced at $1.44.

How will the funds be utilized by Goliath Resources?

The funds will be allocated towards exploration projects located in the Golden Triangle region of British Columbia.

What is a flow-through share?

A flow-through share provides specific tax benefits to investors, allowing them to claim deductions for exploration expenses incurred by the issuing company.

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.