Goliath Resources Limited (OTCMKTS:GOTRF) (CVE:GOT) Stock Extends Rally: Company Announces New Financing

Shares of Goliath Resources Limited (OTCMKTS:GOTRF) (CVE:GOT) continued to move higher on Friday and now up 10% in a week.

Market Stats

On Friday, GOTRF stock gained 5.20% to $0.6943 with more than 97K shares, compared to its average volume of 58K shares. The stock moved within a range of $0.6615 – 0.7244 after opening trading at $0.6750.

Goliath Announces $11,000,000 Flow-Through, Non-Brokered Financing at $1.19 Per Unit and Strategic Investors

Explorer of precious metals projects in Golden Triangle of northwestern British Columbia and the Abitibi Greenstone Belt of Quebec, Goliath Resources Limited (OTCMKTS:GOTRF) (CVE:GOT) on February 11, 2022 announced $11,000,000 non-brokered private placement. This is being done using flow through units and involves strategic investors.

Every unit would be having price of $1.19 for gross proceeds of $11,000,000. Every FT Unit will consist of a single flow through common share as well as one warrant for purchasing a single non-flow through common share at $1.30 for a 24 month period.

The proceeds would be harnessed for funding the 2022 Surebit drill campaign planned for 2022. It will have drill testing of outer extremities of Surebet Zone for assessing potential size of system.

The firm may pay finder’s fees with respect to a part of the offering. The non-brokered placement will be subject to approval from TSX Venture Exchange.

All shares issued after the offering as well as any other shares pursuant to exercise of warrants would be depending on the four-month hold period from the closing date.

All of the Goliath Resources Limited’s projects are engaged in world class geological settings as well as safe jurisdictions amendable to mining in Canada.

Traders Corner

GOTRF stock is trading above the 20-Day and 50-Day Moving averages of $0.66 and $0.68 respectively. However, the stock is trading below the 200-Day moving average of $0.72.