Goliath Resources arranges $23-million bought deal

Executive Summary

• Goliath Resources Ltd. announced a bought‑deal private placement raising approximately C$23 million through the issuance of national and B.C. flow‑through shares.
• The offering includes an underwriter option for additional shares equal to 15% of the sold amount, cash commission of 6%, and broker warrants covering 6% of the shares at a $3.22 exercise price for 24 months.
• Proceeds will be used for qualifying exploration expenditures on the Golddigger‑Surebet gold project in British Columbia, with spending required by Dec 31 2026 and renunciation to subscribers by Dec 31 2025.

Key Details

• Shares Issued:
• 1,190,477 national flow‑through shares at C$4.20 each → ~C$5 M gross proceeds.
• 4,054,054 B.C. flow‑through shares at C$4.44 each → ~C$18 M gross proceeds.
• Total Gross Proceeds: Approximately C$23 million.
• Underwriter Option: Additional national flow‑through shares equal to 15% of the sold amount; exercisable up to 48 hours before closing.
• Commission & Warrants:
• Cash commission = 6.0% of gross proceeds (paid from cash on hand).
• Broker warrants = 6.0% of flow‑through shares issued; each warrant allows purchase of one common share at $3.22 for 24 months post‑closing.
• Closing Date: Expected on or about October 23, 2025, subject to TSX Venture Exchange approval and other conditions.
• Use of Proceeds: To fund qualifying exploration expenses (Canadian Exploration Expenses, Flow‑Through Mining Expenditures) on the Golddigger‑Surebet gold project; expenditures must be incurred by Dec 31 2026 and renounced to subscribers by Dec 31 2025.
• Re‑offer Structure: Certain purchasers may donate or sell flow‑through shares to charities or other investors at $3.00 per re‑offer share on closing, with sales permitted under listed issuer financing exemptions in Canada, the U.S., and other jurisdictions.
• Regulatory Exemptions: Offering relies on NI 45‑106 Part 5A listed issuer financing exemption; flow‑through shares will have no hold period, while broker warrants will be subject to a 4‑month‑plus‑1‑day hold period.

Notable Quotes

(No direct quotes were provided in the release.)