Goliath Resources Secures Funding Through Charity Flow-Through Financing
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Goliath Resources Limited Engages in New Financing
Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) is excited to announce plans to raise a significant amount of $7,366,750 through a non-brokered charity flow-through private placement. This initiative sets the price per share at $1.975, with no accompanying warrants. A notable strategic investor, a Singapore-based Global Commodity Group, has committed to purchasing 1,600,000 shares. This group had previously invested during Goliath's $1.11 private placement, which was completed last month, increasing its ownership stake to 3.6% in the company.
Details of the Financing Initiative
Goliath is also looking to broaden its financing efforts, pursuing a total of $10,116,750. This will be achieved through a combination of charity flow-through shares and traditional flow-through shares, with the latter priced at $1.44 each. The charity flow-through shares will be sold at an average price of $1.975.
Utilization of Proceeds
The proceeds from these placements are aimed at financing Canadian exploration expenses, as defined by relevant tax regulations. Specifically, investments will be directed toward flow-through mining expenditures and exploration activities in British Columbia that are recognized as Canadian exploration expenses. Goliath is committed to utilizing these funds appropriately, as the flow-through investments must be incurred on or before December 31, 2025, with necessary tax obligations completed by December 31, 2024.
Incentives for Investors
As part of the financing initiative, Goliath may offer finders' fees, which include a six percent cash incentive and warrants priced at $1.26 for specific orders, conditioned upon compliance with TSX Venture Exchange guidelines. It is important to note that all securities issued in this offering will be subject to a hold period, which will last four months and one day from their date of issuance. The successful completion of this offering is contingent upon receiving all regulatory approvals, including those from the TSX Venture Exchange.
About Goliath Resources Limited
Goliath Resources is actively focused on the exploration of precious metal projects within the renowned Golden Triangle of British Columbia. All its projects are situated in prime geological locations that are recognized as being safe for mining operations in Canada. Goliath is an active participant in CASERM, emphasizing its link between top educational institutions such as the Colorado School of Mines and Virginia Tech. The company enjoys the support of strategic investors, including Crescat Capital and notable individuals like Mr. Rob McEwen and Mr. Eric Sprott, along with the aforementioned Global Commodity Group from Singapore.
Stay Connected
For further information about Goliath Resources Limited, please reach out to:
Mr. Roger Rosmus
Founder and CEO
Telephone: +1.416.488.2887
Email: roger@goliathresources.com
Website: www.goliathresourcesltd.com
Frequently Asked Questions
What is the purpose of the fundraising by Goliath Resources?
The funds will be used primarily for Canadian exploration expenses and flow-through mining expenditures.
Who is the strategic investor involved in this financing?
A Singapore-based Global Commodity Group is participating in the financing by purchasing shares.
How much is Goliath Resources planning to raise?
Goliath Resources is looking to raise a total of $10,116,750 through its financing efforts.
What will the proceeds from the shares be used for?
The proceeds will be allocated toward exploration activities within British Columbia, adhering to specific tax regulations.
When will the offering close?
The closing date will depend on regulatory approvals, with a hold period of four months and one day from issuance for the securities.
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