The latest financing comprises around 2.6 million flow-through units of Goliath priced at C$1.155 per unit for gross proceeds of C$3 million. Each unit contains one common share and a share purchase warrant exercisable at C$0.85 per share.
Goliath’s stock traded 2.6% higher at C$0.80 apiece as of 12:25 p.m. EDT in Toronto on Wednesday, for a market capitalization of C$71.8 million.
Crescat Capital, like in the October financing, will also be involved and exercising its pre-emptive right to purchase additional units upon completion to maintain an 18.4% ownership. The firm is advised by Dr. Quinton Hennigh, who is known for his geologic and technical expertise in gold and silver exploration.
“We are very pleased to have Mr. McEwen’s continued support by increasing his personal ownership in Goliath within a few short months since his initial investment. As well, we appreciate Crescat Capital’s ongoing guidance and their…
