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.
Related Articles
- H/Advisors Abernathy Welcomes New Managing Directors
- ICE Voice Revolutionizes Trader Communication with Cloud Tech
- Workday Launches New Industry Accelerators for Digital Growth
- Richard Saperstein Honored in Barron’s 2024 Top Advisors List
- Alaska Airlines Finalizes $1.9 Billion Deal with Hawaiian
- Unleashing Creativity with DreamHost's AI-Powered Website Builder
- Cboe Canada Marks Milestone with New CDR Listings
- Guggenheim Investments Partners with Allvue Systems for Efficiency
- Celebrating Todd Ford’s Appointment to Deel's Board of Directors
- Crystal Intelligence Expands Operations with Strategic Leadership
Recent Articles
- Empowering College Athletes: Dexcom's Inspiring NIL Initiative
- Univar Solutions Partners with BASF on Exclusive Baxxodur Line
- Graco Inc. Transforms Organizational Structure for Growth
- Chain.io Unveils Snowflake Integration for Supply Chain Excellence
- Dentalcorp Invests in Future of Dental Technology and Innovation
- FeedbackNow Enhances Operations with Series A Funding and New Tech
- GSK's RSV and Shingles Vaccine Trial Shows Promising Results
- CB&I and Hanwha Ocean Achieve Major Milestone in Hydrogen Shipping
- Canadians Acknowledge Preventative Health Yet Hesitate on Care
- Visibly Secures CE Mark Approval for its Digital Acuity Test
- Butterball's Thanksgiving Report Shows Turkey Still Reigns Supreme
- Powerfleet's Bold Acquisition of Fleet Complete Set to Transform Sector
- MiQ, EQT & Uniper Launch Innovative LNG Emissions Pilot
- URAC Enhances Telehealth Accreditation with AI and Privacy Focus
- Canyon Partners Enhances EMEA Operations with Key Appointment
- Ovia Health Introduces Innovative Postpartum Management Program
- Bio-Techne's 2024 Corporate Sustainability Report Unveiled
- Expert Systems Partners with Polku Therapeutics for Drug Development
- Newforma Marks Two Decades of Innovation in Project Management
- ImmunoScape Receives G-Rex Grant to Advance TCR-T Therapies
- Polus Capital Management's New Investment Breakthrough
- Ginkgo Datapoints Launch: A Leap in AI-Driven Biology
- Revolutionizing Pharma Sales: AI-Driven Insights for Reps
- Enhanced Collaboration: FlatFrog's Gesture-Sensing Technology
- Merck's KEYTRUDA Gains FDA Approval for Mesothelioma Treatment
- What to Anticipate from the Federal Reserve's Historic Rate Decision
- Victoria's Secret Receives Upgraded Rating from Barclays Analysts
- Navigating the S&P 500: Insights from a Legendary Investor
- Navigating the Tech Stock Landscape with Vanguard Funds
- AECOM Secures Key Contract for Major Airport Expansion Project
- TELUS Digital Unveils New Global Brand Identity and Vision
- Avery Dennison's 2024 Investor Day: Insights and Innovations
- Acquisition Highlights: Tucson Embedded Systems Joins Precise Systems
- Highlights from the 2024 Global Industrial Internet Conference
- CrowdStrike and Dazz Collaboration Enhances Cloud Security Solutions
- Market Anticipates Impact of Fed's Upcoming Rate Cut Decisions
- Thermo Compression Forming Market Expected to Hit $13.37 Billion
- AIRS Medical and MXR Imaging Team Up to Transform MRI Efficiency
- Biosyngen Advances Solid Tumor CAR-T Therapy to Phase II Trials
- BD Launches Innovative Prefillable Syringe to Improve Biologics
- Reckitt Benckiser Explores Sale of Homecare Asset Worth Billions
- Innovative Drug Vidofludimus Calcium Advances MS Treatment Efforts
- Target's Quarterly Dividend: A Commitment to Shareholder Value
- Indian Stock Markets Experience a Soft Close; Nifty 50 Falters
- Meta Expands Sustainability Efforts with Carbon Credit Acquisition
- Understanding the Fed's Dilemma: Interest Rate Cuts Explained
- Examining the Risks: Volkswagen and BMW's Stock Futures
- Exploring the Impact of Corporate Tax Changes on Key Stocks
- Analyzing Nasdaq 100 and S&P 500: Key Market Insights
- The Rising Tide of Silver: What Investors Need to Know