Eric Sprott Takes 8.5% Stake IN Goliath Resources Limited
ERIC SPROTT TAKES 8.5% STAKE IN
GOLIATH RESOURCES LIMITED
Toronto, Ontario – February 10, 2021 – Goliath Resources Limited (TSX -V: GOT)
(OTCQB: GOTRF) (Frankfurt: B4IF) (the “Company” or “Goliath”) is pleased to announce
a non-brokered private placement and strategic investment by Mr. Eric Sprott through 2176423
Ontario Ltd. for a total of $2,000,000 representing a 8.5% stake in the Company post financing .
Crescat Capital (“Crescat”) LLC will be participating in this offering to maintain their 9.9%
interest.
The offering will consist of 4,189,090 units ( “Units”) priced at $0. 55 for gross proceeds of
$2,304,000. Each Unit will consist of one common share plus one warrant to purchase an
additional common share at $0. 86 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 at or above $1.50 for a period of 20 consecutive
trading days. It is anticipated that the close will take place during the first week of March 2021.
“We are extremely pleased to welcome Mr. Eric Sprott as a new and significant shareholder in
Goliath. We appreciate Eric recognizing the potential upside for the Company and we look
forward to his continued support as well as Crescat . This investment is a strong testament to all
the hard work and dedication in the field that has led us from a concept to the new Surebet high-
grade gold -silver discovery in the Golden Triangle, BC . Goliath has caught the attention of
institutions, senior miners, and the technical community with the of addition of Dr. Quinton
Hennigh as its technical advisor . We are fully funded for the 2021 inaugural drill program at
Surebet and look forward to kicking off our program in Q2.”
The Company will not be paying any finder's fees in relation to this offering. This non-brokered
private placement is subject to TSX Venture Exchange a pproval. All shar es issued pursuant to
this offering and any shares issued pursuant to the exercise of warrants will be subject to a four -
month hold period from the closing date.
About Crescat Capital LLC
Crescat is a global macro asset management firm headquartered in Denver, Colorado. Crescat’s
mission is to grow and protect wealth over the long term by deploying tactical investment themes
based on proprietary value -driven equity and macro models. Crescat’s goal is industry leading
absolute and risk-adjusted returns over complete business cycles with low correlation to common
benchmarks. Crescat’s investment process involves a mix of asset classes and strategies to assist
with each client’s unique needs and objectives and includes Global Macro, Long/Sho rt, Large
Cap and Precious Metals funds.
Crescat is advised by its technical consultant Dr . Quinton Hennigh on investments in gold and
silver resource companies . Dr. Hennigh became an economic geologist after obtaining his PhD
in Geology/Geochemistry from the Colorado School of Mines . He has more than 30 years of
exploration experience with major gold mining firms that include Homestake Mining, Newcrest
Mining and Newmont Mining. Recently, Dr. Hennigh founded Novo Resources Corp (TSXV:
NVO) and serving as C hairman. Among his notable project involvements are First Mining
Gold’s Springpole gold deposit in Ontario, Kirkland Lake Gold’s acquisition of the Fosterville
gold mine in Australia, the Rattlesnake Hills gold deposit in Wyoming, and Lion One’s Tuvatu
gold project on Fiji, among many others.
About Goliath Resources Limited
Goliath Resources Limited is a junior explorer of p recious 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
www.goliathresourcesltd.com
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. Actua l
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 financings and its ability to build
value for its shareholders as it develops i ts 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 c urrently 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 appl icable 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 no t 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 (a s
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.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTIO N TO U.S.
NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES
DESCRIBED HEREIN.