Golden Goliath closes first tranche of Private Placement

Golden Goliath Resources Ltd. has announced the closing of the first tranche of its recently announced private placement (July 14). This first tranche totals $204,000 consisting of 1,700,000 shares and 1,700,000 warrants. Funds will be used to start work on the Companyʻs four REE projects in Quebec. Securities issued will be subject to a hold period of four months and a day. The Company paid a finders' fee of 8% cash and 8% warrants having the same terms as the warrants under the Units.

The financing of up to $400,00 consists of a combination of flow-through units priced at $0.12 with a warrant priced at $0.20 and non flow-through units priced at $0.10 with a full warrant priced at $0.20. Each full warrant will entitle the holder to purchase an additional common share at a price of $0.20 for a period of 24 months from the date of closing of the private placement. 

This private placement is being offered on a non-brokered basis and the Units will be subject to a statutory hold period of four months and a day from the closing date of the Offering. The Company may pay a finder's fee on a portion of the gross proceeds of the private placement. The Offering remains subject to regulatory approval. 

About Golden Goliath

Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX Venture Exchange (symbol GNG). The Company is focused on exploring and developing four Rare Earth element properties in Quebec and two gold properties in the Red Lake and Sault Ste. Marie Mining Districts of Ontario. The Company also holds a 100% interest in the San Timoteo property, located in the Sierra Madre Occidental Mountains of northwestern Mexico, as well as NSR royalties on seven other nearby properties.

Tags: Northern Ontario / Deals & Financial / Gold / All Articles