NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
TORONTO, Dec. 28, 2018 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (FSE: B4IE)
(OTCQB: GOTRF) (the “Company or “Goliath”) is pleased to announce that it has closed a
non-brokered private placement of $172,500 flow-through units completed with institutions. This financing is in addition to the
previously closed non-brokered private placements of $794,855 and $707,000 announced on December 14, 2018 and November 27, 2018
respectively for a total of $1,674,355.
This offering consisted of flow-through units ("FT Unit") 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.
The Company paid a finders fee equal to 7% of the gross proceeds from a portion of the financing in
cash in the amount of $7,000, and 7% finders warrants in the amount of 35,000. The finders warrants are based on the same
terms and conditions as the warrants attached to the units sold 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 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. 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.
