McEwen Mining Inc. Completes $10,000,000 Strategic Investment In Goliath Resources Limited At $1.93 Per Unit
Goliath Resources (GOTRF) has completed a strategic non-brokered private placement with McEwen Mining, involving 5,181,347 units at C$1.93 per unit, totaling a $10 million investment. The transaction was executed through an exchange of shares, with McEwen issuing 868,056 common shares at C$11.52 per share to Goliath.
Following the transaction, McEwen Mining now owns approximately 5.4% of Goliath, while Rob McEwen personally holds about 3.9% on a partially diluted basis. Each unit consists of one common share and half a warrant, with each full warrant allowing the purchase of one common share at C$2.50 within 12 months.
The deal includes a two-year standstill agreement preventing McEwen and Robert McEwen from acquiring more than 9.9% of Goliath's outstanding shares without prior consent. The investment follows Goliath's successful 2024 drilling season, where 92% of drill holes showed visible gold at their Surebet discovery.
Goliath Resources (GOTRF) ha completato un collocamento privato strategico non mediato con McEwen Mining, coinvolgendo 5.181.347 unità a C$1,93 per unità, per un totale di un investimento di 10 milioni di dollari. La transazione è stata eseguita tramite uno scambio di azioni, con McEwen che ha emesso 868.056 azioni ordinarie a C$11,52 per azione a favore di Goliath.
Dopo la transazione, McEwen Mining possiede ora circa il 5,4% di Goliath, mentre Rob McEwen detiene personalmente circa il 3,9% su base parzialmente diluita. Ogni unità consiste di un'azione ordinaria e metà di un warrant, con ogni warrant intero che consente l'acquisto di un'azione ordinaria a C$2,50 entro 12 mesi.
Il contratto include un accordo di standstill di due anni che impedisce a McEwen e a Robert McEwen di acquisire più del 9,9% delle azioni in circolazione di Goliath senza consenso preventivo. L'investimento segue la riuscita stagione di perforazione 2024 di Goliath, dove il 92% dei fori di perforazione ha mostrato oro visibile nella loro scoperta Surebet.
Goliath Resources (GOTRF) ha completado una colocación privada estratégica no mediada con McEwen Mining, que involucra 5,181,347 unidades a C$1.93 por unidad, totalizando una inversión de 10 millones de dólares. La transacción se llevó a cabo a través de un intercambio de acciones, con McEwen emitiendo 868,056 acciones comunes a C$11.52 por acción a Goliath.
Tras la transacción, McEwen Mining ahora posee aproximadamente el 5.4% de Goliath, mientras que Rob McEwen tiene personalmente alrededor del 3.9% en base parcialmente diluida. Cada unidad consiste en una acción común y medio warrant, siendo cada warrant completo que permite la compra de una acción común a C$2.50 dentro de 12 meses.
El acuerdo incluye un pacto de standstill de dos años que impide a McEwen y a Robert McEwen adquirir más del 9.9% de las acciones en circulación de Goliath sin consentimiento previo. La inversión sigue a la exitosa temporada de perforación de 2024 de Goliath, donde el 92% de los pozos de perforación mostraron oro visible en su descubrimiento Surebet.
골리앗 리소스 (GOTRF)는 맥유언 마이닝과 비중개 전략적 사모 배정을 완료했습니다. 이 거래는 5,181,347 유닛을 유닛당 C$1.93에 포함하여 총 1천만 달러의 투자를 이끌어냈습니다. 거래는 주식 교환을 통해 이루어졌으며, 맥유언은 골리앗에게 주당 C$11.52로 868,056주의 보통주를 발행했습니다.
거래 후, 맥유언 마이닝은 골리앗의 약 5.4%를 소유하게 되었고, 롭 맥유언은 부분적으로 희석된 기준으로 약 3.9%를 개인적으로 보유하고 있습니다. 각 유닛은 하나의 보통주와 반 개의 워런트로 구성되며, 완전한 워런트는 12개월 이내에 C$2.50에 하나의 보통주를 구매할 수 있게 합니다.
이번 거래에는 맥유언과 로버트 맥유언이 사전 동의 없이 골리앗의 유통 주식의 9.9% 이상을 인수하지 못하도록 하는 2년간의 스탠드스틸 계약이 포함되어 있습니다. 이 투자는 골리앗의 2024년 성공적인 시추 시즌에 이어지며, 92%의 시추 구멍에서 그들의 Surebet 발견에서 가시적인 금이 발견되었습니다.
Goliath Resources (GOTRF) a complété un placement privé stratégique sans intermédiaire avec McEwen Mining, impliquant 5 181 347 unités à 1,93 C$ par unité, totalisant un investissement de 10 millions de dollars. La transaction a été réalisée par un échange d'actions, McEwen émettant 868 056 actions ordinaires à 11,52 C$ par action à Goliath.
Suite à la transaction, McEwen Mining possède désormais environ 5,4% de Goliath, tandis que Rob McEwen détient personnellement environ 3,9% sur une base partiellement diluée. Chaque unité se compose d'une action ordinaire et d'un demi-warrant, chaque warrant complet permettant l'achat d'une action ordinaire à 2,50 C$ dans les 12 mois.
L'accord comprend un pacte de non-concurrence de deux ans empêchant McEwen et Robert McEwen d'acquérir plus de 9,9% des actions en circulation de Goliath sans consentement préalable. Cet investissement fait suite à la saison de forage réussie de 2024 de Goliath, où 92% des trous de forage ont montré de l'or visible lors de leur découverte Surebet.
Goliath Resources (GOTRF) hat eine strategische nicht vermittelte Privatplatzierung mit McEwen Mining abgeschlossen, bei der 5.181.347 Einheiten zu je C$1,93 platziert wurden, was insgesamt eine Investition von 10 Millionen Dollar ergibt. Die Transaktion wurde durch einen Austausch von Aktien durchgeführt, wobei McEwen 868.056 Stammaktien zu je C$11,52 an Goliath ausgegeben hat.
Nach der Transaktion besitzt McEwen Mining nun etwa 5,4% von Goliath, während Rob McEwen persönlich etwa 3,9% auf einer teilweise verwässerten Basis hält. Jede Einheit besteht aus einer Stammaktie und einem halben Warrant, wobei jeder volle Warrant den Kauf einer Stammaktie zu C$2,50 innerhalb von 12 Monaten ermöglicht.
Das Geschäft beinhaltet eine zweijährige Standstill-Vereinbarung, die es McEwen und Robert McEwen untersagt, ohne vorherige Zustimmung mehr als 9,9% der ausstehenden Aktien von Goliath zu erwerben. Die Investition folgt auf die erfolgreiche Bohrkampagne 2024 von Goliath, bei der 92% der Bohrlöcher sichtbares Gold bei ihrer Entdeckung Surebet zeigten.
- Strategic $10M investment from renowned mining investor and company
- Strong drilling results with 92% of holes showing visible gold in 2024
- Secured cornerstone investors with mining expertise
- Additional funding potential through warrant exercise at C$2.50
- Share dilution from issuance of 5,181,347 new units
- Standstill agreement limits potential future strategic transactions
TORONTO, March 10, 2025 (GLOBE NEWSWIRE) -- Further to its press releases dated January 29, 2025 and February 18, 2025, Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to announce it has closed its strategic non-brokered private placement of 5,181,347 units of the Company (“Units”) to McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) (“McEwen”), an arm’s length party to the Company, at a deemed price of C
Robert McEwen, Chairman & Chief Owner, commented: “I have been impressed with Goliath’s Surebet gold discovery since I became a shareholder in 2023. Their 2024 drilling season was particularly impressive,
Roger Rosmus, Founder & Chief Executive Officer of Goliath, commented: “It is with great pleasure to announce the completion of the strategic investment from McEwen Mining. Mr. McEwen has made three personal investments in Goliath, and we are delighted to have him and his company as key strategic cornerstone shareholders. The endorsement of our Surebet discovery through McEwen Mining and Mr. McEwen is exciting to us for key reasons. Rob is a member of the Canadian Mining Hall of Fame due to his success building Goldcorp and as a strategic investor in the mining sector. We are looking forward to our upcoming 2025 drilling season.”
Each Unit is comprised of one (1) common share in the capital of the Company (each, a “Common Share”) and one-half of one (1/2) common share purchase warrant (each whole common share purchase warrant, a “Warrant”), resulting in the issuance of an aggregate of 2,590,673 Warrants. Each Warrant entitles the holder thereof to purchase one (1) Common Share at an exercise price of C
In addition to the subscription agreement, the Company, McEwen and Mr. Robert McEwen entered into a standstill agreement, pursuant to which McEwen and Mr. McEwen agreed to, among other things, not acquire, offer to acquire or agree to acquire (with or without conditions) any securities of the Company exceeding
Qualified Person
Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Goliath Resource Limited projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release. Mr. Turna is also a director of the Company.
About Goliath Resources Limited
Goliath Resources is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. All of its projects are in high quality geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech. Goliath’s key strategic cornerstone shareholders include Crescat Capital, McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), Mr. Rob McEwen, a Global Commodity Group based in Singapore, Mr. Eric Sprott and Mr. Larry Childress.
For more information please contact:
Goliath Resources Limited
Mr. Roger Rosmus
Founder and CEO
Tel: +1.416.488.2887
roger@goliathresources.com
www.goliathresourcesltd.com
This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this news release include statements regarding the Transaction. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting the Company’s business and results of operations; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.
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.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
FAQ
What are the terms of McEwen Mining's $10 million investment in Goliath Resources (GOTRF)?
What ownership percentage does McEwen Mining and Rob McEwen hold in GOTRF after the investment?
What were Goliath Resources' (GOTRF) drilling results in 2024 at the Surebet discovery?
What restrictions does the standstill agreement place on McEwen Mining regarding GOTRF shares?
