{kanada_flagge}Denver-based investor Crescat Capital will acquire a 19.9% stake in Goliath Resources (TSX-V: GOT; OTCQB: GOTRF; FRA: B4IF) as part of the company’s ongoing capital raise. Crescat has the right to participate in future financings of the Company to maintain its interest as long as it holds more than 3% of the issued and outstanding common shares. Goliath is seeking to raise CAD 11 million in fresh capital in the current private placement.
On February 13, 2022, Goliath announced a non-brokered flow-through financing of units priced at CAD1.19 per unit and involving strategic investors. Each FT unit will consist of one flow-through common share and one warrant to purchase one non-flow-through common share at a price of $1.30 for a period of 24 months. Closing is expected to occur in March 2022.
The proceeds will be used to fund the planned 2022 Surebet drilling campaign. This will include drilling tests on the outer ends of the Surebet zone to determine the potential size of the system.
Crescat is a global macro asset management company headquartered in Denver, Colorado. Crescat is advised by Dr. Quinton Hennigh, its geological and technical director, on investments in gold and silver resource companies. Dr. Hennigh is an economic geologist with a Ph.D. in geology/geochemistry from the Colorado School of Mines. He has more than 30 years of exploration experience with major gold mining companies, including Homestake Mining, Newcrest Mining and Newmont Mining. Recently, Dr. Hennigh founded Novo Resources Corp. and currently serves as co-chairman.
Summary: It is a sign of strength that one of Goliath Resources’ major investors is participating in the ongoing capital raise, if necessary, beyond its pro rata share to which it is entitled. According to the latest figures published on the Goliath website, Crescat currently holds 19.43 percent of the shares, followed by Eric Sprott (P/D) with 12.95 percent. In total, Goliath issued 56,092,296 shares prior to the completion of the current capital round. In addition, there are 25,694,646 warrants, all of which are in the money.
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