{kanada_flagge}Goliath Resources (TSX-V: GOT; FRA: B4IF) finds itself in high demand for its current financing and is now stepping it up another notch. Back at the end of February, the company had already increased its financing from the original CAD 11 million to CAD 13.82 million. Now, Goliath is announcing financing totaling CAD 14.61 million in flow-through units at a price of CAD 1.19.
The additional funding will allow Goliath to significantly expand the 2022 drilling campaign at the newly discovered Surebet Zone on its Golddigger property. Drilling will now include the outer areas of the Surebet zone to determine the potential size of the system as well as the newly discovered adjacent extension target to the southeast.
Bottom line: When it’s on, it’s on. Goliath can enter the new season with confidence. Financially, the company is in a strong position. According to the last quarterly report, Goliath still had just under CAD 2 million in cash at year-end 2021. Moreover, by our count, more than 25 million warrants are in the money, which could add another CAD9 million to the coffers if exercised. The CAD14.61 million is now freshly added. Also in this financing, there is a full two-year warrant at CAD1.30, which means built-in further financing if the stock performs well. I guess that’s what you call clever financial engineering.
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