07:29:22 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Goliath Resources Ltd
Symbol GOT
Shares Issued 88,809,816
Close 2018-12-13 C$ 0.08
Market Cap C$ 7,104,785
Recent Sedar Documents

Goliath closes $794,855 private placement

2018-12-14 13:55 ET - News Release

Mr. Roger Rosmus reports

GOLIATH CLOSES $794,855 NON-BROKERED PRIVATE PLACEMENT FOR A COMBINED TOTAL RAISE OF $1,501,855

Goliath Resources Ltd. has closed a non-brokered private placement for proceeds totalling $794,855. This offering was completed with strong support from both institutions and accredited investors alike in Canada. This financing is in addition to the closing of the $707,000 financing announced on Nov. 27, 2018, for combined gross proceeds totalling $1,501,855.

The offering consisted of flow-through units and non-flow-through units both priced at 10 cents per unit.

Each flow-through unit comprises one common share which is a flow-through share for Canadian income tax purposes and one-half share purchase warrant (each full warrant, a 20-cent warrant). Each non-flow-through unit comprises one common share which is not a flow-through share and one-half share purchase warrant (each full warrant, a 20-cent warrant).

Each full warrant will entitle the holder to purchase one additional common share which is not a flow-through share at the price of 20 cents for 24 months after closing. If, at any time after four months after the date of completion of the offering, the company's shares have a closing price equal to or higher than 40 cents per share for 10 consecutive trading days on the TSX Venture Exchange, the Company shall thereafter be entitled to give notice to the holders of all 20-cent warrants, by news release, that such warrants will expire at 4:30 p.m. ET on that date which is 30 days after the date of such news release unless exercised before the expiry of that period.

The company will pay finders' fees equal to 7 per cent of the gross proceeds from a portion of the financing in cash, and 7-per-cent finders' warrants equal to the number of units sold in accordance with the policies of the TSX-V. The private placement and finders' fees are subject to TSX-V acceptance. All shares issued pursuant to the offering and any shares issued pursuant to the exercise of warrants will be subject to a four-month-and-one-day hold period from the closing date. The company paid $28,000 in finders' fees and issued 140,000 finders' warrants (which have the same price and terms as the 20-cent warrants attached to the units sold).

About Goliath Resources Ltd.

Goliath Resources is a project generator of precious metals projects focused in the prolific Golden Triangle and surrounding area of northwestern British Columbia. It controls 100 per cent of four highly prospective properties, that include Bingo, Golddigger, Lucky Strike and Copperhead, covering over 44,000 hectares. All four properties have brand new discoveries that all have returned anomalous gold, silver and/or copper in soils, grab and channel samples from exposed bedrock at surface over large areas. These new discoveries occurred in an area of glacial recession and snowpack melting in a geological setting where world-class deposits have been found within the Golden Triangle and surrounding area.

We seek Safe Harbor.

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