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Goliath Resources Limited

Exchange: TSXV Exchange | Jul 16, 2018, 7:29 PM EDT

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Goliath Arranges $1,450,000 of Additional Funding

TORONTO, May 29, 2018 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V:GOT) (Frankfurt:B4IE) (the “Company or “Goliath”) is pleased to announce a non-brokered private placement of an additional $1,450,000 with strong support from both institutions and accredited investors in Canada. It is scheduled to close this week. This financing is in addition to the $1,423,581 private placement that closed and was announced on April 23, 2018 for combined gross proceeds totaling $2,873,581.

The offering will consist of flow-through units (each an "FT Unit") at the price of $0.15 and non-flow-through units (each an "NFT Unit") at the price of $0.11. Each FT Unit will be comprised of one common share which is a "flow-through" share for Canadian income tax purposes and one share purchase warrant (each full warrant a "$0.30 Warrant"). Each $0.30 Warrant will entitle the holder to purchase one additional common share which is not a "flow-through" share at the price of $0.30 for 24 months after Closing. Each NFT Unit will be comprised of one common share which is not a "flow-through" share and one share purchase warrant (each a "$0.22 Warrant"). Each $0.22 Warrant will entitle the holder to purchase one additional common share which is not a "flow-through" share at the price of $0.22 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 $0.44 or $0.60 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 $0.22 Warrants or the $0.30 Warrants respectively, 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 will 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 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 geological setting where world class deposits have been found within the Golden Triangle and surrounding area.

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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