Goliath announces concurrent funding
TORONTO, March 01, 2021 (GLOBE NEWSWIRE) – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (Frankfurt: B4IF) (the “Society” Where “Goliath”) is pleased to announce a simultaneous private placement without intermediary (the “Simultaneous offer“) in addition to the funding announced on February 10, 2021 (see Press release).
The simultaneous placement will consist of up to 930,000 units (“Units”) At a price of $ 0.60 per Unit for gross proceeds of up to $ 558,000. Each unit will consist of one ordinary share (a “Ordinary share“) and a common share purchase warrant (a”To guarantee“), each Warrant entitling its holder to purchase one additional common share at a price of $ 0.95 for a period of twenty-four months and subject to an acceleration clause. The Company shall have the right to ” accelerate the exercise period after the 4 month holding period has expired and its common stock is trading at a price equal to or greater than $ 1.50 for a period of 20 consecutive trading days. It is expected that the closing of the concurrent placement will take place during the first week of March 2021. Crescat Capital LLC will participate in maintaining a 9.9% interest following the financing.
The Company will not pay any intermediation commission within the framework of the Simultaneous Offer. The simultaneous offering is subject to the approval of the TSX Venture Exchange. All common shares issued in connection with this offering and all common shares issued in connection with the exercise of the warrants will be subject to a four month hold period from the date of issue.
About Goliath Resources Limited
Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and the Abitibi greenstone belt of Quebec. All of its projects take place in world-class geological settings and geopolitical jurisdictions that are secure and conducive to mining in Canada.
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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 press 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”, “intention”, “expect”, “believe”, “will”, “proposed”, “estimated” and similar expressions and statements relating to matters which are not historical facts are intended to identify forward-looking information and are based on Goliath’s current belief or assumptions about the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking information relating, among other things, to the Company’s ability to complete the Concurrent Offering and its ability to create shareholder value as it develops its mining properties. Various assumptions or factors are generally applied in drawing conclusions or making the forecasts or projections set forth in forward-looking information. These assumptions and factors are based on information currently available to Goliath. Although these statements are based on reasonable assumptions of management, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed in the manner described above.
The forward-looking information contained in this press release is made as of the date hereof and Goliath is not obligated to update or revise the forward-looking information, whether as a result of new information, future events or otherwise, except if required by applicable securities. laws. Due to the risks, uncertainties and assumptions contained in this document, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained in this document.
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