Goliath Resources Limited announced a non-brokered private placement of 2,597,403 charity flow-through units at a price of CAD 1.155 per unit for aggregate gross proceeds of up to CAD 3,000,000.47 on December 6, 2023. Each CFT unit will consist of one common share and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one common share of the company at an exercise price of CAD 0.85 per share for a period of 24 months from the date of issuance. The transaction is expected to close before December 31, 2023.

The transaction will include participation from returning investor, Crescat Capital LLC maintaining its stake at 18.4%, individual investor, McEwen, increasing its stake to 5%. As a part of the transaction, the company may pay a finder?s fee to eligible arm?s length parties. The finder?s fee may consist of a cash fee equal to 6% of the gross proceeds of the CFT offering and finder?s warrants equal to 6% of the CFT Units issued pursuant to the CFT offering.

All securities issued and sold under the CFT offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the CFT offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.