Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE:
B4IF) (the
"Company" or
"Goliath") is pleased to announce it has closed
its previously announced non-brokered private placement of
2,597,403 charity flow-through units (the “
CFT
Units”) at a price of
$1.155 per CFT Unit
for aggregate gross proceeds of
$3,000,000 (the
“
CFT Offering”).
Mr. Rob McEwen increased his ownership in the
Company by doubling his position to more than 5% on a partially
diluted basis (“P/D”). Crescat Capital LLC
(“Crescat”), Goliath’s largest shareholder, and a
strategic institutional shareholder also purchased units to
maintain their 18.4% (P/D) and 9.9% (P/D) ownership, respectively.
These add-on investments demonstrate that Goliath continues to
receive the ongoing financial support of strategic investors
recognized globally for mining and specializing in precious
metals.
Mr. McEwen is the founder and former chairman of
Goldcorp Inc. where he discovered, built, and operated the Red Lake
Mine in Ontario which was acquired by Newmont Mining in 2019 for
US$10 billion. Mr. McEwen is currently the Chairman and Chief Owner
of McEwen Mining Inc., a gold and silver producer with operations
in Nevada, Canada, Mexico and Argentina, along with a large copper
development project.
Crescat Capital is Goliath’s largest shareholder
and a global macro asset management firm headquartered in Denver,
Colorado. Crescat Capital's mission is to grow and protect wealth
over the long term by deploying tactical investment themes based on
proprietary value-driven equity and macro models. Crescat Capital's
goal is industry leading absolute and risk-adjusted returns over
complete business cycles with low correlation to common benchmarks.
Crescat Capital's investment process involves a mix of asset
classes and strategies to assist with each client's unique needs
and objectives and includes Global Macro, Long/Short and Precious
Metals funds.
Crescat Capital is advised by Dr. Quinton
Hennigh, its geologic and technical director on investments in gold
and silver resource companies. Dr. Hennigh became an economic
geologist after obtaining his PhD in Geology/Geochemistry from the
Colorado School of Mines. He has more than 30 years of exploration
experience with major gold mining firms that include Homestake
Mining, Newcrest Mining and Newmont Mining. Recently, Dr. Hennigh
founded Novo Resources Corp., and is currently serving as
co-chairman. Among his notable project involvements are First
Mining Gold's Springpole gold deposit in Ontario, Kirkland Lake
Gold's acquisition of the Fosterville gold mine in Australia, the
Rattlesnake Hills gold deposit in Wyoming, and Lion One's Tuvatu
gold project in Fiji, among many others.
Crescat, is considered a "related party" of the
Company. Accordingly, their purchase constitutes a "related party
transaction" within the meaning of Multilateral Instrument 61-101 –
Protection of Minority Security Holders in Special Transactions
("MI 61-101"). The Company relied on exemptions
from the formal valuation and minority shareholder approval
requirements of MI 61-101 contained in sections 5.5(a) and
5.7(1)(a) of MI 61-101 in respect of such related party
participation as neither the fair market value of the subject
matter of, nor the fair market value of the consideration paid,
insofar as it involved a related party, exceeded 25% of the
Company's market capitalization. Further details will be included
in a material change report to be filed by the Company. The
material change report will not be filed more than 21 days prior to
closing of the CFT Offering because the timing of the announcement
and the closing date was less than 21 days apart.
Each CFT Unit consisted of one (1) common share
that will qualify as a flow-through share within the meaning of
Subsection 66(15) of the Income Tax Act (Canada) (the
“Act”) and one (1) common share purchase warrant
(each, a “Warrant”), with each Warrant entitling
the holder thereof to purchase one (1) common share of the Company
at an exercise price of $0.85 per share for a period of 24 months
from the date of issuance.
The gross proceeds of the CFT 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 Act, flow-through mining expenditures as
defined in Subsection 127(9) of the Act, 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
December 31, 2024, and renounced with an effective date no later
than December 31, 2023. The Company intends to use the proceeds of
the CFT Offering for exploration, drilling and related programs on
Goliath’s Golddigger and Lucky Strike properties located in and
around the Golden Triangle of northwestern British Columbia.
In connection with the CFT Offering, the Company
paid a finder’s fee of 6% cash and 6% finder’s warrants
(“Finder’s Warrant”) to eligible arm’s length
parties on all/or a portion of certain orders. The finder’s fee
consisted of a $15,060 cash fee and 21,514 Finder’s Warrants. Each
Finder’s Warrant shall entitle the holder to acquire one common
share at a price of $0.85 per share for a period of 24 months from
the date of issuance.
All securities issued and sold under the CFT
Offering will be subject to a hold period expiring four months and
one day from their date of issuance. Completion of the CFT 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.
Golddigger Property
The Golddigger Property is 100 % controlled
covering an area of an area of 64,264 hectares (158,800 acres) and
is in the world class geological setting of the Eskay Rift within
the Golden Triangle of British Columbia and within 3 kilometers of
the ‘Red Line’ that is host to multiple world class deposits. With
over 65,000 meters of diamond drilling in aggregate to date at the
newly discovered Surebet Zone, the Company has confirmed an area of
1.8 square kilometers of multiple highly mineralized stacked zones
containing Bonanza gold grades that remains open.
The Surebet discovery has exceptional metallurgy
with gold recoveries of 92.2% inclusive of 48.8% free gold from
gravity alone at a 327-micrometer crush (no deleterious elements
and no cyanide required to recover the gold based on metallurgical
work completed to date).
It is in an excellent location close in
proximity to the communities of Alice Arm and Kitsault where there
is a permitted mill site on private property. It is situated on
tide water with direct barge access to Prince Rupert (190
kilometers via the Observatory inlet/Portland inlet). The town of
Kitsault is accessible by road (190 kilometers from Terrace, 300
kilometers from Prince Rupert) and has a barge landing, dock, and
infrastructure capable of housing at least 300 people, including
high-tension power. Additional infrastructure in the area includes
the Dolly Varden Silver Mine Road (only 7 kilometers to the East of
the Surebet discovery) with direct road access to Alice Arm barge
landing (18 kilometers to the south of the Surebet discovery) and
high-tension power (25 kilometers to the East of Surebet
discovery).
The city of Terrace (population 16,000) provides
access to railway, major highways, and airport with supplies (food,
fuel, lumber, etc.), while the town of Prince Rupert (population
12,000) is located on the west coast and houses an international
container seaport also with direct access to railway and an airport
with supplies.
Lucky Strike Property
The Goldsource and Bullseye targets are situated
on Goliath’s 100% controlled Lucky Strike property located near
Terrace in northwestern British Columbia. It sits within a world
class geological terrane of the Skeena Arch, a belt-scale
structural corridor that is associated with significant porphyry
and related mineralization. The property is within 2 kilometres of
logging access roads with direct access to hydro-power and paved
highway in close proximity to major infrastructure in Terrace
B.C.
Qualified Person
Rein Turna P. Geo is the qualified person as
defined by National Instrument 43-101, for Goliath Resources
projects, and supervised the preparation of, and has reviewed and
approved, the technical information in this release.
About Goliath Resources
Limited
Goliath Resources Limited is an explorer of
precious metals projects in the prolific Golden Triangle of
northwestern British Columbia and Abitibi Greenstone Belt of
Quebec. All its projects are in world class geological settings and
geopolitical safe jurisdictions amenable to mining in Canada.
For more information please
contact:Goliath Resources LimitedMr. Roger
RosmusFounder and CEOTel:
+1.416.488.2887roger@goliathresources.comwww.goliathresourcesltd.com
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", "intend", "expect", "believe", "will",
"projected", "estimated" and similar expressions and statements
relating to matters that are not historical facts are intended to
identify forward-looking information and are based on Goliath’s
current belief or assumptions as to the outcome and timing of such
future events. Actual future results may differ materially. In
particular, this release contains forward-looking information
relating to, among other things, the ability of the Company to
complete financings and its ability to build value for its
shareholders as it develops its mining properties. Various
assumptions or factors are typically applied in drawing conclusions
or making the forecasts or projections set out in forward-looking
information. Those assumptions and factors are based on information
currently available to Goliath. Although such statements are based
on management's reasonable assumptions, there can be no assurance
that the proposed transactions will occur, or that if the proposed
transactions do occur, will be completed on the terms described
above.
The forward-looking information contained in
this release is made as of the date hereof and Goliath is not
obligated to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by applicable securities laws. Because of the
risks, uncertainties and assumptions contained herein, investors
should not place undue reliance on forward-looking information. The
foregoing statements expressly qualify any forward-looking
information contained herein.
This announcement does not constitute an offer,
invitation, or recommendation to subscribe for or purchase any
securities and neither this announcement nor anything contained in
it shall form the basis of any contract or commitment. In
particular, this announcement does not constitute an offer to sell,
or a solicitation of an offer to buy, securities in the United
States, or in any other jurisdiction in which such an offer would
be illegal.
The securities referred to herein have not been
and will not be will not be registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”), or
any state securities laws and may not be offered or sold within the
United States or to or for the account or benefit of a U.S. person
(as defined in Regulation S under the U.S. Securities Act) unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
NOT FOR DISSEMINATION IN THE UNITED
STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT
CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED
HEREIN.
Goliath Resources (TSXV:GOT)
過去 株価チャート
から 4 2024 まで 5 2024
Goliath Resources (TSXV:GOT)
過去 株価チャート
から 5 2023 まで 5 2024