Goliath Announces Concurrent Financing
02 March 2021 - 10:43AM
Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF)
(Frankfurt: B4IF) (the
“Company” or
“Goliath”) is pleased to announce a concurrent
non-brokered private placement (the "
Concurrent
Offering") in addition to the financing announced February
10, 2021 (see News Release).
The Concurrent Offering will consist of up to
930,000 units (“Units”) priced at $0.60 per Unit
for gross proceeds of up to $558,000. Each Unit will consist of one
common share (a "Common Share") and one common
share purchase warrant (a "Warrant"), each Warrant
entitling the holder to purchase one additional Common Share at a
price of $0.95 for a twenty-four month period and subject to an
accelerator clause. The Company shall have the right to accelerate
the exercise period after the 4 month hold period has expired and
its Common Shares close for trading at or above $1.50 for a period
of 20 consecutive trading days. It is anticipated that the closing
of the Concurrent Offering will take place during the first week of
March 2021. Crescat Capital LLC will be participating to maintain a
9.9% interest post funding.
The Company will not be paying any finder's fees
in relation to the Concurrent Offering. The Concurrent Offering is
subject to TSX Venture Exchange approval. All Common Shares issued
pursuant to this offering and any Common Shares issued pursuant to
the exercise of the Warrants will be subject to a four-month hold
period from the date of issuance.
About Goliath Resources
Limited
Goliath Resources Limited is an explorer of
precious metals projects in the prolific Golden Triangle of
northwestern British Columbia and Abitibi Greenstone Belt of
Quebec. All of its projects are in world class geological settings
and geopolitical safe jurisdictions amenable to mining in
Canada.
For more information please
contact:
Goliath Resources Limited Mr. Roger
Rosmus President and Chief Executive Officer Tel:
+1-416-488-2887 x222 roger@goliathresources.com
www.goliathresourcesltd.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange), nor the OTCQB Venture Market
accepts responsibility for the adequacy or accuracy of this
release.
Certain statements contained in this press
release constitute forward-looking information. These statements
relate to future events or future performance. The use of any of
the words "could", "intend", "expect", "believe", "will",
"projected", "estimated" and similar expressions and statements
relating to matters that are not historical facts are intended to
identify forward-looking information and are based on Goliath’s
current belief or assumptions as to the outcome and timing of such
future events. Actual future results may differ materially. In
particular, this release contains forward-looking information
relating to, among other things, the ability of Company to complete
the Concurrent Offering and its ability to build value for its
shareholders as it develops its mining properties. Various
assumptions or factors are typically applied in drawing conclusions
or making the forecasts or projections set out in forward-looking
information. Those assumptions and factors are based on information
currently available to Goliath. Although such statements are based
on management's reasonable assumptions, there can be no assurance
that the proposed transactions will occur, or that if the proposed
transactions do occur, will be completed on the terms described
above.
The forward-looking information contained in
this release is made as of the date hereof and Goliath is not
obligated to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by applicable securities laws. Because of the
risks, uncertainties and assumptions contained herein, investors
should not place undue reliance on forward-looking information. The
foregoing statements expressly qualify any forward-looking
information contained herein.
This announcement does not constitute an offer,
invitation, or recommendation to subscribe for or purchase any
securities and neither this announcement nor anything contained in
it shall form the basis of any contract or commitment. In
particular, this announcement does not constitute an offer to sell,
or a solicitation of an offer to buy, securities in the United
States, or in any other jurisdiction in which such an offer would
be illegal.
The securities referred to herein have not been
and will not be will not be registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”), or
any state securities laws and may not be offered or sold within the
United States or to or for the account or benefit of a U.S. person
(as defined in Regulation S under the U.S. Securities Act) unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
NOT FOR DISSEMINATION IN THE UNITED
STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT
CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED
HEREIN.
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