Financing Increased to Almost C$15 Million!
Now it’s already 14.725 million dollars that Goliath Resources (WKN A2P063 / TSXV GOT) intends to raise with the previously announced flow-through financing! Evidently, major investors are lining up for the company, which is currently working with eight drill rigs on its Golddigger project.
For example, strategic investor Crescat Capital has been involved for some time, while a commodity company from Singapore has only recently joined. The latter has now completed the acquisition of its shares, which have also been increased, and now holds 3.5% of Goliath’s shares.
New Strategic Investor Buys 1 Million Goliath Shares
Meanwhile, mining legend and mining investor Rob McEwen now holds 3.8% of Goliath’s outstanding and issued shares, with news just yesterday that he had acquired another 800,000 Goliath shares. In the current increase of the placement, Mr. Larry Childress has also come on board as a strategic investor. He is acquiring 1 million Goliath shares through the Childress Family LP vehicle.
Mr. Childress founded an oil exploration company in the 1980s that discovered several large oil fields in western Kansas. Since then, for more than 40 years, Mr. Childress has been investing in exploration projects at all stages of development. Currently, for example, he is the second-largest shareholder of Fireweed Metals after the Lundin family, holding 22 million shares of the company. His other major investments include Filo and Hercules Metals. Mr. Childress was also the second-largest shareholder of Noront Resources when the company was acquired by Wyloo for $637 million, well above market value.
In any case, Goliath has now completed a first tranche of the financing amounting to CAD 9,562,308, consisting of charity flow-through shares at CAD 1.975 per share and flow-through shares at CAD 1.44. Given the high demand for its shares, Goliath does not need to issue warrants. Ultimately, the financing is now expected to bring in CAD 14.75 million for work on Golddigger, up from the previous CAD 12.75 million.
