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  • Goliath Resources Limited (GOT) has announced a non-brokered private placement and investment by Eric Sprott for a total of $2 million representing an 8.5 per cent stake in the company post financing
  • Crescat Capital LLC will be participating in this offering to maintain their 9.9 per cent interest
  • The offering will consist of 4,189,090 units priced at $0.55 for gross proceeds of $2,304,000
  • The company shall have the right to accelerate the exercise period after the four month hold period has expired and its common shares close to or above $1.50 for a period of 20 consecutive trading days
  • Goliath Resources Limited is up9.23 per cent to C$0.71 per share

Goliath Resources Limited (GOT) has announced a non-brokered private placement and investment by Eric Sprott for a total of $2,000,000 representing a 8.5 per cent stake in the company post financing.

Crescat Capital LLC will be participating in this offering to maintain their 9.9 per cent interest.

The offering will consist of 4,189,090 units priced at $0.55 for gross proceeds of $2,304,000. Each unit will consist of one common share plus one warrant to purchase an additional common share at $0.86 for a 24 month period and subject to an accelerator clause.

The company shall have the right to accelerate the exercise period after the four month hold period has expired and its common shares close to or above $1.50 for a period of 20 consecutive trading days. It is anticipated that the close will take place during the first week of March 2021.

Goliath Resources Limited President and Chief Executive Officer Roger Rosmus said the company is pleased to welcome Mr. Eric Sprott as a new and significant shareholder in Goliath.

“We appreciate Eric recognizing the potential upside for the company and we look forward to his continued support as well as Crescat. This investment is a strong testament to all the hard work and dedication in the field that has led us from a concept to the new Surebet high-grade gold-silver discovery in the Golden Triangle, BC. Goliath has caught the attention of institutions, senior miners, and the technical community with the of addition of Dr. Quinton Hennigh as its technical advisor. We are fully funded for the 2021 inaugural drill program at Surebet and look forward to kicking off our program in Q2.”

The company will not be paying any finder’s fees in relation to this offering. This non-brokered private placement is subject to TSX Venture Exchange approval. All shares issued pursuant to this offering and any shares issued pursuant to the exercise of warrants will be subject to a four-month hold period from the closing date.

Goliath Resources Limited is up9.23 per cent to C$0.71 per share.

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