The Prospector News

Goliath Closes $2,000,000 Order From Strategic Singapore Based Global Commodity Group And Other HNW Investors Totaling $5,406,080 In The First Tranche Of Previously Announced Non-Brokered Private Placement Up To $6,500,000

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Goliath Closes $2,000,000 Order From Strategic Singapore Based Global Commodity Group And Other HNW Investors Totaling $5,406,080 In The First Tranche Of Previously Announced Non-Brokered Private Placement Up To $6,500,000

 

 

 

 

 

Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) is pleased to announce it has closed the $2,000,000 order from a strategic global commodity group based in Singapore, plus additional orders for gross proceeds of $5,406,080 in the first tranche. The second tranche up to a total of $6,500,000 is expected to close early September 2024.

 

The non-brokered private placement is a combination of: (i) Non-Flow-Through shares (NFT) to be sold at a price of $1.11 each and Flow-Through shares (FT) to be sold at a price of $1.28 that will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada). The first tranche consisted of 2,782,410 NFT shares for gross proceeds of $3,088,475 and 1,810,629 FT shares for proceeds of $2,317,605 for aggregate proceeds of $5,406,080.

 

The Company intends to use the proceeds for general operating expenses and exploration related programs on its properties located in and around the Golden Triangle of northwestern British Columbia.

 

The proceeds from the FT offering will be used for Canadian exploration expenses as such term is defined in paragraph (f) of the definition of Canadian exploration expense in Subsection 66.1(6) of the tax act, flow-through mining expenditures as defined in Subsection 127(9) of the tax act that will qualify as flow-through mining expenditures, and B.C. flow-through mining expenditures as defined in Subsection 4.721(1) of the Income Tax Act (British Columbia), which will be incurred on or before Dec. 31, 2025, and renounced with an effective date no later than Dec. 31, 2024. British Columbia Super Flow – the B.C. mining flow-through share (B.C. MFTS) tax credit allows BC Residents who invest in flow-through shares to claim a provincial non-refundable tax credit of 20% of their B.C. flow-through mining expenditures. B.C. flow-through mining expenditures are specific exploration expenses incurred by a PBC and renounced by a corporation issuing the flow-through shares.

 

Goliath paid finders’ fees composed of 6% cash totaling $67,342.26 and 6% finder warrants totaling 59,382 on certain orders in connection with the first tranche of the placement, subject to compliance with the policies of the TSX Venture Exchange. All securities issued and sold under the offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the offering and the payment of any finders’ fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

 

About Goliath Resources Limited

 

Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. All of its projects are in world class geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization represents a collaborative venture between Colorado School of Mines and Virginia Tech. Goliath’s key strategic cornerstone shareholders include Crescat Capital, Mr. Rob McEwen and Mr. Eric Sprott.

 

Posted August 22, 2024

Share this news article

MORE or "UNCATEGORIZED"


Hudbay Provides Annual Reserve and Resource Update with Mine Life Extensions and Improved Three-Year Production Outlook

Hudbay Minerals Inc. (TSX:HBM) (NYSE: HBM) today released its ann... READ MORE

March 27, 2026

OREZONE GOLD COMPLETES STRATEGIC ACQUISITION OF CASA BERARDI GOLD MINE AND QUEBEC EXPLORATION PORTFOLIO AND REPORTS FOURTH QUARTER 2025 RESULTS

Strategic acquisition of an established operating gold mine, loca... READ MORE

March 27, 2026

Cerro de Pasco Resources Secures Access Agreement Over Entire Quiulacocha Tailings Area, Enabling Next Phase of Project Development

Cerro de Pasco Resources Inc. (TSX-V: CDPR) (OTCQB: GPPRF) (FRA: ... READ MORE

March 26, 2026

SAGA Metals Acquires Strategic Titanium Assets from Rio Tinto in Quebec

The Garneau Titanium Project Features Ilmenite-Rich Boulder with ... READ MORE

March 26, 2026

ValOre Reports Positive Leaching Results from Ongoing Metallurgical Program for Pedra Branca PGM Project, Brazil; 73% Platinum and 74% Palladium Achieved Extraction from Weathered Material and 66% Platinum and 79% Palladium from Chromitite;

ValOre Metals Corp. (TSX‐V: VO) (OTCQB: KVLQF) (Frankfurt: KEQ0... READ MORE

March 26, 2026

Copyright 2026 The Prospector News