Investor Alert

press release

March 1, 2021, 6:44 p.m. EST

Goliath Announces Concurrent Financing

TORONTO, March 01, Mar 01, 2021 (GLOBE NEWSWIRE via COMTEX) -- TORONTO, March 01, 2021 (GLOBE NEWSWIRE) -- Goliath Resources Limited /zigman2/quotes/207152631/delayed CA:GOT -1.20% (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 () 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 ()Common Share") and one common share purchase warrant ()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.

For more information please contact:

Goliath Resources Limited
Mr. Roger Rosmus
President and Chief Executive Officer
Tel: +1-416-488-2887 x222

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of Company to complete the Concurrent Offering and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.

The forward-looking information contained in this release is made as of the date hereof and Goliath is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

The securities referred to herein have not been and will not be will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.



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CA : Canada: TSX Venture
$ 0.82
-0.01 -1.20%
Volume: 65,996
Jan. 17, 2022 3:36p
P/E Ratio
Dividend Yield
Market Cap
$46.52 million
Rev. per Employee

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