Goliath Secures $2 Million Order from Global Commodity Group
Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) is excited to share that it has successfully closed a $2 million order with a strategic global commodity group based in Singapore. This order is part of a larger first tranche that has generated gross proceeds totaling $5,406,080. The company is also looking forward to finalizing the second tranche, which is anticipated to reach up to $6,500,000, in early September.
Overview of the Private Placement
This non-brokered private placement includes both Non-Flow-Through shares (NFT) priced at $1.11 each and Flow-Through shares (FT) sold at $1.28. The first tranche consists of 2,782,410 NFT shares, which have raised gross proceeds of $3,088,475, along with 1,810,629 FT shares that contributed $2,317,605, bringing the total proceeds to $5,406,080.
Allocation of Proceeds
The funds raised from this offering will be directed towards general operating expenses and exploration activities on properties located in the Golden Triangle region of northwestern British Columbia. Specifically, the funds from the Flow-Through offering will be allocated for Canadian exploration expenses, flow-through mining expenditures, and B.C. flow-through mining expenditures, which are expected to be incurred by the end of 2025. Importantly, B.C. flow-through mining expenses qualify for a 20% non-refundable provincial tax credit for investors.
Finder’s Fees and Regulatory Compliance
Goliath has disbursed finders' fees that include 6% cash, totaling $67,342.26, and 6% finder warrants amounting to 59,382 for certain orders associated with the first tranche of the placement. These transactions comply with the policies of the TSX Venture Exchange, and all securities issued will be subject to a hold period of four months and one day from their issuance date. The completion of the offering is contingent upon receiving all necessary regulatory approvals.
About Goliath Resources Limited
Goliath Resources Limited is dedicated to exploring precious metals projects within the prestigious Golden Triangle of northwestern British Columbia. The company is focused on operating in world-class geological settings and is situated in politically stable jurisdictions that are favorable to mining in Canada. Goliath is also actively engaged with CASERM, a collaborative initiative involving the Colorado School of Mines and Virginia Tech. The company enjoys the support of significant strategic shareholders, including Crescat Capital, Rob McEwen, and Eric Sprott, which bolsters its financial position and influence in the industry.
Contact Information
If you have any further questions, please contact:
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.