NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
TORONTO, Nov. 21, 2018 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (FSE: B4IE)
(OTCQB: GOTRF) (the “Company or “Goliath”) is pleased to announce a non-brokered private
placement of $520,000. Funds will be used for exploration and general working capital. It is scheduled to close early next
week.
The offering will consist of flow-through units ("FT Unit") and non-flow-through units ("NFT Unit")
both priced at $0.10 per unit.
Each FT Unit will be comprised of one common share which is a "flow-through" share for Canadian income tax
purposes and one half (1/2) share purchase warrant (each full warrant a "$0.20 Warrant"). Each $0.20 Warrant will entitle the
holder to purchase one additional common share which is not a "flow-through" share at the price of $0.20 for 24 months after
closing. If at any time after four months after the date of completion of the offering the Company's Shares have a closing price
equal to or higher than $0.40 per Share for ten (10) consecutive trading days on the TSX-V (as defined herein), the Company shall
thereafter be entitled to give notice to the holders of all $0.20 Warrants, by news release, that such warrants will expire at
4:30 p.m. (Toronto time) on that date which is 30 days after the date of such news release unless exercised before the
expiry of that period.
Each NFT will be comprised of one common share which is not a "flow-through" share and one half (1/2) share
purchase warrant (each full warrant a "$0.20 Warrant"). Each $0.20 Warrant will entitle the holder to purchase one
additional common share which is not a "flow-through" share at the price of $0.20 for a period of 24 months after
closing. If at any time after four months after the date of completion of the offering the Company's Shares have a closing price
equal to or higher than $0.40 per Share for ten (10) consecutive trading days on the TSX-V (as defined herein), the Company shall
thereafter be entitled to give notice to the holders of all $0.20 Warrants , by news release, that such warrants will
expire at 4:30 p.m. (Toronto time) on that date which is 30 days after the date of such news release unless exercised
before the expiry of that period.
The Company may pay finder's fees equal to 7% of the gross proceeds from a portion of the financing in
cash, and 7% finders warrants equal to the number of units sold based on the same terms and in accordance with the policies of
the TSX Venture Exchange. The proposed private placement and finder's fees are subject to TSX Venture Exchange acceptance. All
shares issued pursuant to the offering (including shares issued to finders) and any shares issued pursuant to the exercise of
warrants will be subject to a four-month hold period from the closing date.
About Goliath
Goliath Resources Limited is a project generator of precious metals projects focused in the prolific Golden Triangle and
surrounding area of northwestern British Columbia. It controls 100% four highly prospective properties that include Bingo,
Golddigger, Lucky Strike and Copperhead covering over 44,000 hectares. All four properties have brand new
discoveries that all have returned anomalous gold, silver and/or copper in grab and channel samples from exposed bedrock at
surface. These new discoveries occurred in an area of glacial recession and snowpack melting in a world class
geological setting where world class deposits have been found. Inaugural drill programs were completed this year at both the Lucky
Strike and Copperhead properties.
Further information regarding Goliath Resources Limited can be found at:
www.goliathresourcesltd.com
Contact Information:
Roger Rosmus
Chief Executive Officer
roger@goliathresources.com
+1-416-488-2887 x222
General Disclaimer
Goliath Resources Limited "Goliath" has taken all reasonable care in producing and publishing information contained in this
news release and will endeavor to do so on a periodic basis. Material in this news release may still contain technical or other
inaccuracies, omissions, or typographical errors, for which Goliath assumes no responsibility. Goliath does not warrant or make any
representations regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this
site. Under no circumstances, including, but not limited to, negligence, shall Goliath be liable for any direct, indirect, special,
incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer
of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to
use, the material from this news release. The information is not a substitute for independent professional advice before making any
investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this
site, except for personal use unless you have obtained our express written permission.
Forward-Looking Statements
This news release contains forward-looking statements, including but not limited to comments regarding predictions and
projections. More particularly, this document contains statements concerning the benefits of the listing of the Company's shares on
OTCQB. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently anticipated in such statements. The Company does not intend, and does not
assume any obligation, to update these forward-looking statements.
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.
