Golden Goliath closes $1.19-million private placement

Mr. Maki Petkovski reports GOLDEN GOLIATH CLOSES PRIVATE PLACEMENT Golden Goliath Resources Ltd. has closed its private placement, announced on Sept. 22. The financing comprised 23,920,857 units issued at a price of five cents for gross proceeds of $1,196,042. Each unit comprises one common share and one whole warrant, entitling the holder to purchase one additional common share for a period of 12 months at a price of eight cents. All securities issued under this private placement will be subject to a hold period for four months and a day in accordance with applicable securities laws. The company paid a finder's fee to Clarence Financial Pty. Ltd. of $46,552 cash and 931,042 warrants, having the same terms as the warrants under the units. The private placement will include participation by insiders of the company in an amount of 5.3 million units. The participation in the placement by these insiders constitutes a related party transaction (as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions). The company relies upon the "Issuer Not Listed on Specified Markets" and "Fair Market Value Not More Than $2.5-million" exemptions from the formal valuation and minority shareholder approval requirements, respectively, under MI 61-101. The company intends to use the net proceeds of the offering to conduct exploration activities on its Wishore property in the Sault Ste. Marie district, Ontario, for asset acquisition investigations and for general working capital. About Golden Goliath Resources Ltd. Golden Goliath Resources is a junior exploration company based in Vancouver, B.C., focused on the exploration and development of precious metal properties in mining-friendly jurisdictions. The company is actively exploring its projects in Ontario's Red Lake district and other high-potential areas in Canada. We seek Safe Harbor.