FULL DISCLOSURE: Canacom Group is long the equity of Goliath Resources.
Goliath Resources (TSXV: GOT) has closed out their latest round of financing, bringing total gross proceeds raised to $27.1 million via two separate offerings.
The first offering saw Goliath raise gross proceeds of $23.0 million via the sale of 7.26 million charity flow-through shares at a price of $3.17 each, which was conducted via a bought deal offering led by Stifel Nicolaus Canada. That offering was closed out on June 16, with shares issued under the listed issuer financing exemption.
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The second offering meanwhile consisted of a non-brokered financing, which saw the sale of 1.28 million charity flow-through shares at a price of $3.17 per each. That offering raised gross proceeds of $4.1 million, with shares sold under the arrangement to be subject to a hold period of four months and one day from the date of issuance.
READ: Goliath Resources Launches 91 Hole, 40,000 Metre Drill Program At Surebet
Proceeds from the funding will be used for the continued exploration of Goliath’s Golddigger-Surebet project. Mobilization began back in May for this year’s exploration program, which is to consist of 40,000 metres of drilling conducted by nine drill rigs.
2025’s exploration program has been designed to systematically define the full geometry and extent of the Surebet discovery both laterally and to depth, with drilling to test for the motherlode causative intrusive gold source alongside an additional 13 potential Eocene intrusive granitoid dykes observed on surface.
READ: Goliath Resources Identifies 26.47 Metre Interval Of Visible Gold In Hole GD-22-64
At the same time, relogging of drill core is to take place on 50 holes drilled within the last several years that intersected Eocene intrusive granitoid dykes. Early work has already been successful from that program this year, with multiple instances of visible gold identified over a 26 metre interval in core from hole GD-22-64.
Goliath Resources last traded at $2.03 on the TSX Venture.
FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive is long the equity of Goliath Resources. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
