Golden Goliath closes $1.19-million private placement

Executive Summary

• Golden Goliath Resources Ltd. closed a private placement of 23,920,857 units at $0.05 per unit, raising gross proceeds of $1,196,042.
• Each unit includes one common share and one whole warrant (exercise price $0.08, 12‑month term); securities are subject to a four‑month hold period.
• Net proceeds will fund exploration on the Wishore property in Ontario, asset acquisition investigations, and general working capital.

Key Details

• Units Issued: 23,920,857 units at $0.05 per unit.
• Gross Proceeds: $1,196,042.
• Unit Composition: 1 common share + 1 whole warrant (right to purchase one additional common share at $0.08 for 12 months).
• Hold Period: All securities subject to a four‑month and one‑day hold period per securities law requirements.
• Finder’s Fee: $46,552 cash plus 931,042 warrants (identical terms to placement warrants) paid to Clarence Financial Pty. Ltd.
• Insider Participation: Insiders purchased 5.3 million units, constituting a related‑party transaction under MI 61‑101.
• Exemptions Relied Upon: “Issuer Not Listed on Specified Markets” and “Fair Market Value Not More Than $2.5‑million” exemptions from formal valuation and minority shareholder approval under MI 61‑101.
• Use of Proceeds: Net proceeds earmarked for (i) exploration activities on the Wishore property (Sault Ste. Marie district, Ontario), (ii) asset acquisition investigations, and (iii) general working capital.

Notable Quotes

(No direct quotes were provided in the release.)