Goliath nets $3.1 million as Crescat, McEwen exercise warrants
Goliath Resources Ltd. [GOT-TSXV, GOTRF-OTCQB, B41F-FSE] said strategic investors Crescat Capital, owning approximately 14.4%, and Rob McEwen, owning approximately 3.9%, have participated in warrant exercises.
Since January 1, 2025, the company said it has received a total of $3.16 million in warrant exercises. The company said there still remains a total of 6.37 million warrants outstanding that are deep in the money with an average strike price of 65 cents, representing a total of $6.37 million, and all will expire this year, on or before December 29, 2025. This dollar amount includes $3.6 million of warrants outstanding that are deep in the money with an average strike price of 68 cents and will expire on or before May 16, 2025.
On Friday, the shares eased 0.55% or $0.01 to $1.81. The shares trade in a 52-week range of $2.87 and 77 cents.
“We wish to thank the continued support of our strategic investors, inclusive of Crescat Capital and Rob McEwen, as well as our long term shareholders for their early exercise of warrants,’’ said Goliath founder and CEO Roger Rosmus. “The funds received so far as well as the potential for additional funds of $6.37 million from deep-in-the-money warrant exercises this year will further enhance and strengthen Goliath’s already healthy financial position.’’
Goliath Resources is an explorer of precious metals projects in the Golden Triangle region of northeastern British Columbia. On February 27, 2025, Goliath reported final assay results for the 2024 drill season at its 100%-owned Golddigger Property. The company said results included exceptional high-grade gold intercepts of up to 9.39 g/t AuEq (gold equivalent) {8.99 g/t gold and 12.21 g/t silver) over 10.17 metres within 7.33 g/t AuEq (7.01 g/t gold and 9.70 g/t silver ) over 13.10 metres from multiple mineralized veins that remain open at the Surebet Zone at Golddigger.
“Goliatch achieved all goals that it set out for its 2024 Surebet drill program,’’ said Quinton Hennigh, Geological/Technical Director at Crescat Capital, a strategic investor in Goliath Resources. “New well-positioned drill holes rapidly expanded the footprint of the stacked lode system, additional lodes were discovered and the likely causative intrusion from which the Surebet gold system originates has been identified,’’ he said. “Importantly, because the 2024 program was expanded with many additional holes, a clear picture of where and how high-grade mineralization is distributed throughout the lode system is taking shape, especially within the prolific Bonanza Zone.’’
The Golddigger Property covers an area of 91,518 hectares in the world class geological setting of the Eskay Rift, within 3.0 kilometres of the Red Line in the Golden Triangle. This area has hosted some of Canada’s greatest mines, including Eskay Creek, Premier and Snip. Other significant and well-known deposits in the Golden Triangle include Brucejack, Copper Canyon, Galore Creek, Granduc, KSM and Red Chris.