Goliath Resources (GOT.V): Announces Concurrent Financing

TORONTO, March 01, 2021 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (Frankfurt: B4IF) (the “Company” or “Goliath”) is pleased to announce a concurrent non-brokered private placement (the “Concurrent Offering“) in addition to the financing announced February 10, 2021 (see News Release).

The Concurrent Offering will consist of up to 930,000 units (“Units”) priced at $0.60 per Unit for gross proceeds of up to $558,000. Each Unit will consist of one common share (a “Common Share“) and one common share purchase warrant (a “Warrant“), each Warrant entitling the holder to purchase one additional Common Share at a price of $0.95 for a twenty-four month period and subject to an accelerator clause. The Company shall have the right to accelerate the exercise period after the 4 month hold period has expired and its Common Shares close for trading at or above $1.50 for a period of 20 consecutive trading days. It is anticipated that the closing of the Concurrent Offering will take place during the first week of March 2021. Crescat Capital LLC will be participating to maintain a 9.9% interest post funding.

The Company will not be paying any finder’s fees in relation to the Concurrent Offering. The Concurrent Offering is subject to TSX Venture Exchange approval. All Common Shares issued pursuant to this offering and any Common Shares issued pursuant to the exercise of the Warrants will be subject to a four-month hold period from the date of issuance.

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 of its projects are in world class geological settings and geopolitical safe jurisdictions amenable to mining in Canada.