Strategic Investor Crescat Capital Exercises Warrants and Goliath Resources Receives Proceeds in Aggregate of $1,380,238
TORONTO, Dec. 13, 2022 - Goliath Resources Ltd. (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the "Company" or "Goliath") is pleased to report it has received proceeds in aggregate of $1,380,238 over the past few weeks from 4,842,939 common share purchase warrants ("Warrants") exercised. These set of Warrants had a strike price of $0.285 each and expire December 11, 2022, of which, 100% were all exercised prior to their expiry date.
Crescat Capital ("Crescat"), a strategic investor and largest shareholder of the Company accounted for 3,718,085 of these common share purchase warrants exercised for the sum of $1,059,654. Crescat currently owns 17.48% outright ownership of Goliath and 19.82% on a partially diluted basis.
After this Warrant exercise, Goliath has only 78,383,763 issued and outstanding common shares and 115,375,576 on a fully diluted basis.
About Crescat Capital
Crescat is a global macro asset management firm headquartered in Denver, Colorado, which deploys tactical investment themes based on proprietary value-driven equity and macro models. Crescat's investment goals are to provide industry-leading absolute, and risk-adjusted returns over complete business cycles with low correlation to common benchmarks, and they apply their investment process across a mix of asset classes and strategies. Crescat is taking activist stakes in the precious metals exploration industry today as one of its key macro themes.
About Goliath Resources Limited
Goliath Resources Ltd. is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and Abitibi Greenstone Belt of Quebec. All of its projects are in world class geological settings and geopolitical safe jurisdictions amenable to mining in Canada.
For more information please contact:
Goliath Resources Ltd.
Mr. Roger Rosmus
Founder and CEO
Tel: +1-416-488-2887
roger@goliathresources.com
www.goliathresourcesltd.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of Company to complete the financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.
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