{kanada_flagge}Goliath Resources (TSX-V: GOT; OTCQB: GOTRF; FRA: B4IF) is increasing its financing to CAD13,825,000 from CAD11 million previously. This is in response to significant demand from strategic investors and institutions, the company said in today’s press release.
Goliath had previously announced a placement of flow-through units of CAD 11,000,000 at CAD 1.19 each. The additional funds will allow the company to significantly expand the meters drilled in 2022.
Crescat Capital LLC (“Crescat”), a strategic investor, has agreed to acquire up to 19.9% of Goliath following the financing. Crescat will have an option 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.
Proceeds will be used for an expanded drilling campaign planned for 2022 at the Surebet Zone. This will include drilling at the outer ends of the Surebet Zone to determine the potential size of the system and the newly discovered adjacent extension target to the southeast.
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