Goliath Increases Financing up to $13,825,000 Due to Significant Demand from Strategic Investors & Institutions
GOLIATH INCREASES FINANCING UP TO $13,825,000
DUE TO SIGNIFICANT DEMAND FROM STRATEGIC INVESTORS & INSTITUTIONS
Toronto, Ontario – February 22, 2022 – Goliath Resources Limited (TSX -V: GOT) (OTCQB: GOTRF)
(Frankfurt: B4I F) ( the “Company” or “Goliath”) is pleased to announce an increased financing up to
$13,825,000 due to significant demand from strategic investors and institutions . Goliath had previously
announced a $11,000,000 placement of flow -through units at $1.19 each. These additional funds will
allow the Company to substantially expand the meters drilled during 2022.
Crescat Capital LLC (“Crescat”) a strategic investor has agreed to acquire up to 19. 9% of Goliath post
funding. Crescat will have an option to participate in future financings of the Company to maintain its
interest as long as it holds greater than 3 percent of the issued and outstanding common shares.
On February 1 1, 2022, Goliath announced a $11,000,000 non-brokered flow through financing of units
priced at $1.19 each (“FT Units”) with the involvement of strategic investors. Each FT Unit will consist of
one flow-through common share plus one warrant to purchase one non -flow through common share at
$1.30 for a 24 month period. This has now been increased to $13,825,000 and scheduled to close March
2022.
Proceeds will be used for an expanded drill campaign planned at its Surebet Zone in 2022. This will include
drill testing the outer extremities of Surebet Zone to determine the potential size of the system as well as
the newly discovered adjacent Extension Target to the southeast.
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/Short and Precious Metals funds.
Crescat is advised by Dr. Quinton Hennigh, its geologic and technical director, on investments in gold and
silver resourc e 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 ., and is currently serving as Co-Chairman.
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 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
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