Goliath Resources closes C$26.3 million private placement

Goliath Resources Limited (TSXV: GOT) completed a bought deal private placement for gross proceeds of approximately C$26.3 million, the company announced. The offering included the full exercise of underwriter options.

The placement consisted of 1,977,157 national flow-through shares priced at C$4.20 per share for gross proceeds of approximately C$8.3 million, and 4,054,054 BC flow-through shares at C$4.44 per share for gross proceeds of approximately C$18 million. All shares qualify as flow-through shares under Canada's Income Tax Act.

Stifel Canada served as sole bookrunner and lead underwriter alongside CIBC World Markets Inc. The shares were issued under the listed issuer financing exemption and will not be subject to a hold period under Canadian securities laws.

The company will use proceeds to incur exploration expenses on its Golddigger-Surebet Gold Project in British Columbia. These expenses must be incurred by December 31, 2026, and renounced to subscribers by December 31, 2025.

Goliath paid underwriters a cash commission of C$1,578,243.55 from existing cash and granted 361,873 non-transferable broker warrants. Each warrant allows the purchase of one common share at C$3.22 for 24 months.

The offering requires final approval from the TSX Venture Exchange. Goliath operates precious metals projects in British Columbia's Golden Triangle region.

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