08:16 AM EDT, 05/30/2025 (MT Newswires) -- Goliath Resources ( GOTRF ) overnight Thursday said it entered into an agreement with Stifel Nicolaus Canada to act as sole bookrunner and lead underwriter, along with a syndicate of underwriters, for a bought deal private placement for gross proceeds of about $20 million.

The offering will include around 6.3 million common shares of the company called Charity Flow-Through Shares at a price of $3.17 each.

A statement noted that the company has granted the underwriters an option to sell additional charity flow-through shares equal to 15% of the number of charity flow-through shares sold under the offering at the issue price. This option is exercisable at any time up until 48 hours before the closing date of the offering.

The cash commission paid to the underwriters will come from cash on hand and not from the gross proceeds received in the offering.

The offering is expected to close on or about June 16, with gross proceeds slated to incur qualifying expenditures on its flagship Golddigger-Surebet Gold Project, located in British Columbia, Canada. The closing of the offering is subject to certain conditions including the receipt of all necessary approvals such as the approval of the TSX Venture Exchange.