Goliath Resources increases financing further to $14.61M

Due to significant demand from strategic investors, Goliath Resources (TSXV: GOT) (OTC: GOTRF) is once again increasing its previously announced financing, which was initially in the amount of $11 million and subsequently raised to $13.82 million.

The latest financing increase would now see the company raise a total of $14.61 million through the issuance of $1.19 flow-through units. Each unit comprises one flow-through common share, plus one non-flow-through common share warrant exercisable at $1.30 for a 24-month period. 

As announced previously, Denver-based asset management firm Crescat Capital intends to acquire 19.9% of Goliath post funding and will have an option to participate in future financings of the company to maintain its interest, as long as it holds greater than 3% of the issued and outstanding common shares.

The proceeds will be used by Goliath to expand the 2022 drill campaign at the newly discovered Surebet zone on its Golddigger property. This will include drill testing the outer extremities of Surebet zone to determine the potential size of the system, as well as the adjacent Extension target to the southeast.

In 2021, Goliath completed a 5,332-metre initial drill campaign at Golddigger, where all 24 holes of the program intercepted significant mineralization over 1 km of strike and 1.1 km of down-dip extension on the Surebet discovery.

More information is available at www.goliathresourcesltd.com.