Goliath Closes $13,831,350 IN First Tranche of Flow-Through Funding
GOLIATH CLOSES $13,831,350 IN FIRST TRANCHE OF
FLOW-THROUGH FUNDING
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
TORONTO, March 10, 2022 – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the
“Company” or “Goliath”) closes $13,831,350 in the first tranche of a non-brokered private
placement initially announced on February 11, 202 2; subsequently increased February 22, 2022 and
March 7, 2022, comprised of $1.19 flow-through units. The second and final tranche is expected to
shortly for an aggregate total of $14,60 9,749.
The non-brokered placement consisted of flow-through units ("FT Unit") priced at $1.19 each. Each FT
Unit is comprised of one (1) common share which is a "flow-through" share for Canadian income tax
purposes and one (1) share purchase warrant. Each whole warrant will entitle the holder to purchase one
(1) additional common share which is not a "flow-through" share at the price of $1.30 for 24 months after
closing. The second and final tranche terms are the same.
The Company may pay finder's fees equal to 7% of the gross proceeds from a portion of the financing in
cash, and 7% finders warrants equal to the number of units sold based on the same terms and in
accordance with the policies of the TSX Venture Exchange. The proposed private placement and finder's
fees are subject to TSX Venture Exchange acceptance. All shares issued pursuant to the 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 Goliath Resources Limited
Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of
northwestern British Columbia and the 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
Founder and CEO
Tel: +1.416.488.2887
https://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 news 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 news 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 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 news 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 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.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.