Goliath Resources Secures Financing to Boost Exploration Efforts
Goliath Resources Successfully Closes Significant Financing
Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (Frankfurt: B4IF) has achieved a remarkable milestone in its journey. The company has successfully secured a total of C$27,065,605 through a combination of bought deal financing and concurrent non-brokered financing. This funding supports Goliath’s ongoing commitment to exploring unique precious metals projects within Canada's promising mining regions.
Details of the Financing Arrangement
Following previous announcements regarding the financing activities, Goliath Resources reported the closing of 7,256,500 common shares known as Charity Flow-Through Shares at a price of C$3.17 each. This successful initial round generated gross proceeds of C$23,003,103. Complementing this, the company completed a concurrent non-brokered financing of 1,281,545 such shares at the same price, yielding an additional C$4,062,500. Together, these efforts culminate in a significant total to enhance the company's ambitious exploration objectives.
Use of Proceeds to Drive Exploration Projects
The gross proceeds from this financing will predominantly support the exploration of Goliath’s flagship Golddigger-Surebet Project, known for its high-quality geological setting. Funds will specifically cover exploration expenses categorized as “Canadian exploration expenses” under Canadian tax regulations. Furthermore, funds sourced through this financing will qualify for various provincial tax credits, providing financial incentives for both the company and its investors.
Compensation and Benefits for Investors
To facilitate this offering, Goliath Resources provided compensation to service providers, which included a cash commission of 6.0% of the gross proceeds. Additionally, the company granted 512,284 common share purchase warrants, giving investors the opportunity to acquire shares at an attractive exercise price of C$2.12 each until mid-2027. This structure not only incentivizes participation but also strengthens the company’s shareholding base.
A Look at Goliath's Future Aspirations
With these new funds, Goliath Resources strongly plans to advance exploration efforts and maximize the potential of its projects. The Golddigger-Surebet Project represents a cornerstone of Goliath’s strategy, which aims to uncover substantial mineral deposits in the Golden Triangle, a region rich in resources and mining history.
About Goliath Resources Limited
Goliath Resources is an active exploration company focused on precious metal projects, particularly in the Golden Triangle area of British Columbia. The firm emphasizes operational safety and environmental stewardship while being committed to exploring highly prospective geological settings. Goliath maintains strong relationships with strategic partners and influential shareholders in the mining sector, including Crescat Capital and prominent figures like Rob McEwen.
Contact Information
If you would like to learn more about Goliath Resources or have specific inquiries, feel free to reach out to:
Mr. Roger Rosmus
Founder and CEO
Tel: +1.416.488.2887
Email: roger@goliathresources.com
Website: www.goliathresourcesltd.com
Frequently Asked Questions
What is the total amount raised by Goliath Resources?
Goliath Resources has raised a total of C$27,065,605 through recent financing efforts.
What will the funds be used for?
The proceeds will primarily be used to advance the exploration of the Golddigger-Surebet Project and to cover eligible Canadian exploration expenses.
Who is the CEO of Goliath Resources?
Mr. Roger Rosmus is the Founder and CEO of Goliath Resources.
What are Charity Flow-Through Shares?
Charity Flow-Through Shares are a type of investment that allows companies to raise funds while offering investors tax benefits related to exploration expenses.
Where is Goliath Resources based?
Goliath Resources operates primarily in British Columbia, particularly focusing on the Golden Triangle region.
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