Golden Goliath announces Private Placement

Golden Goliath Resources Ltd. has announced a private placement of up to $1,300,000. The financing will consist of non flow-through units priced at $0.05 with a full warrant entitling the holder to purchase an additional common share at a price of $0.10 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. 

The company intends to use the net proceeds of the Offering to conduct drilling on its Wish Ore Property in the Sault Ste Marie area, Ontario and ground work to identify drill targets on its Rare Earth Element properties in Quebec and for general working capital. 

The Company will not be proceeding with the previously announced financing on January 17, 2024 due to market conditions.

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