Goliath Resources Secures $2 Million Order in Private Placement
Goliath Closes $2 Million Order from Global Commodity Group
Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) is pleased to announce it has closed a $2 million order from a strategic global commodity group based in Singapore, along with additional orders that yield gross proceeds of $5,406,080 in the first tranche. The company anticipates the closing of the second tranche, which is expected to total up to $6,500,000, to occur in early September.
Details of the Private Placement
The non-brokered private placement consists of both Non-Flow-Through shares (NFT) priced at $1.11 each and Flow-Through shares (FT) sold at $1.28. The first tranche comprises 2,782,410 NFT shares yielding gross proceeds of $3,088,475, along with 1,810,629 FT shares which contribute $2,317,605, leading to total proceeds of $5,406,080.
Usage of Proceeds
The proceeds from this offering will be allocated towards general operating expenses as well as exploration-related programs on its properties situated in the Golden Triangle region of northwestern British Columbia. The funds raised through the Flow-Through offering will specifically be used for Canadian exploration expenses, flow-through mining expenditures, and B.C. flow-through mining expenditures, with plans to incur these expenses by the end of 2025. Notably, B.C. flow-through mining expenses qualify for a provincial non-refundable tax credit of 20% for investors.
Finder’s Fees and Compliance
Goliath has paid finders' fees that consist of 6% cash amounting to $67,342.26 and 6% finder warrants totaling 59,382 on specific orders linked to the first tranche of the placement. This is subject to adhering to the policies of the TSX Venture Exchange and all securities issued will be held for a period of four months and one day from their issuance date. The completion of the offering is pending all necessary regulatory approvals.
About Goliath Resources Limited
Goliath Resources Limited focuses on exploring precious metals projects within the renowned Golden Triangle of northwestern British Columbia. The company is committed to operating in world-class geological settings and is based in politically stable jurisdictions conducive to mining in Canada. Goliath is actively involved with CASERM, a collaborative initiative between the Colorado School of Mines and Virginia Tech. The company benefits from key strategic shareholders like Crescat Capital, Rob McEwen, and Eric Sprott, enhancing its financial strength and influence in the sector.
Contact Information
For additional inquiries, please 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 raised by Goliath Resources in this tranche?
Goliath Resources raised a total of $5,406,080 in the first tranche of the private placement.
Where will the proceeds from the private placement be utilized?
Proceeds will be used for general operating expenses and exploration programs in the Golden Triangle region of British Columbia.
What is the price of the Non-Flow-Through and Flow-Through shares?
Non-Flow-Through shares are priced at $1.11 each, while Flow-Through shares are available for $1.28 each.
Who are some of Goliath's key strategic shareholders?
Key strategic shareholders of Goliath include Crescat Capital, Rob McEwen, and Eric Sprott.
What is the expected closing date for the second tranche of the offering?
The second tranche of the offering is expected to close early in September.
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