Goliath Resources closes $26.3M private placement

Executive Summary

• Goliath Resources Ltd. has closed a bought deal private placement raising approximately C$26.3 million in gross proceeds, including the full exercise of the underwriters' over-allotment option.
• The offering consisted of two tranches of flow-through shares: National flow-through shares issued at $4.20 per share and B.C. flow-through shares issued at $4.44 per share.
• Proceeds are designated for exploration expenses on the company's flagship Golddigger-Surebet gold project in British Columbia, with expenses to be incurred and renounced by late 2025/2026.

Key Details

• Total Gross Proceeds: Approximately C$26.3 million.
• Underwriters: Stifel Canada (sole bookrunner and lead underwriter) and CIBC World Markets Inc.
• Tranche 1 (National Flow-Through Shares):
  • Quantity: 1,977,157 shares.
  • Price: $4.20 per share.
  • Gross Proceeds: Approximately $8.3 million.
• Tranche 2 (B.C. Flow-Through Shares):
  • Quantity: 4,054,054 shares.
  • Price: $4.44 per share.
  • Gross Proceeds: Approximately $18.0 million.
• Use of Proceeds: Exploration expenses qualifying as Canadian exploration expenses, flow-through mining expenditures for the mineral exploration tax credit, and B.C. flow-through mining expenditures for the Golddigger-Surebet gold project.
• Expense Renunciation Schedule: Expenses to be incurred on or before December 31, 2026, and renounced to subscribers with an effective date no later than December 31, 2025.
• Underwriter Compensation:
  • Cash Commission: $1,578,243.55 (paid from company cash on hand, not from gross proceeds).
  • Broker Warrants: 361,873 non-transferable warrants granted.
  • Warrant Terms: Each warrant entitles the holder to acquire one common share at an exercise price of $3.22.
  • Warrant Expiry: 24 months from the date of the release.
  • Warrant Hold Period: Four months and one day from the date of the release.
• Regulatory Status: Issued under the listed issuer financing exemption (NI 45-106); no hold period applies to the flow-through shares. Subject to final approval of the TSX Venture Exchange.

Notable Quotes

• None provided in the text.