Goliath Resources Limited Receives Strategic Investments from Rob McEwen and Crescat Capital
Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) is pleased to announce the completion of strategic investments by Mr. Rob McEwen and Crescat Capital LLC. Both investors participated in the first tranche of the non-brokered private placement, which was upsized to $8,600,000 from $5,000,000. The gross proceeds from the first tranche amounted to $4,115,616, with the second and final tranche of up to ~$4,484,384 scheduled to close on or around October 11, 2023.
Mr. McEwen, founder and former Chairman of Goldcorp, subscribed for $1,000,440 NFT units priced at $0.63, while Crescat Capital subscribed for $500,220 NFT units. Once the second tranche is completed, Mr. McEwen will own approximately 2.4% (P/D) of Goliath, and Crescat Capital will own approximately 18.4% (P/D).
The funds raised from the private placement will be used for exploration and related programs on Goliath's Golddigger and Lucky Strike properties in British Columbia. The Golddigger Property covers an area of 61,685 hectares within the Golden Triangle, known for its world-class deposits.
Goliath Resources Limited is focused on exploring precious metals projects in the Golden Triangle and Abitibi Greenstone Belt of Quebec. The company aims to develop its mining properties in geopolitically safe jurisdictions in Canada.
Please note that the securities offered have not been registered under the United States Securities Act of 1933 and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act or an exemption from registration is available.
A New Era for Goliath Resources Limited: The Impact of Strategic Investments
The recent strategic investments made by Rob McEwen and Crescat Capital in Goliath Resources Limited could signal a significant turning point for new businesses in the mining sector. The substantial financial backing from these prominent investors not only bolsters Goliath's exploration and development activities but also sets a precedent for other emerging companies in the industry.
These investments highlight the potential profitability and growth prospects of mining ventures, particularly those in geopolitically safe jurisdictions like Canada. For new businesses, this serves as a compelling case study of how strategic partnerships and investments can accelerate growth and development.
Moreover, the focus on exploration and related programs underscores the critical role of sustainable and responsible mining practices in today's business climate. The commitment to exploring precious metals projects in the Golden Triangle and Abitibi Greenstone Belt of Quebec sends a clear message to new businesses about the importance of operating in areas known for their world-class deposits.
However, it's worth noting that these securities have not been registered under the United States Securities Act of 1933. This could potentially limit the pool of investors for new businesses aiming to follow in Goliath's footsteps. Therefore, new businesses must navigate these regulatory complexities when seeking investments.