Prominent mining company owner Rob McEwen will increase his stake in TSX-V-listed Goliath Resources by completing a private placement for 1.42-million shares, resulting in him owning 5% of the company.
He first bought a 2.4% stake in Goliath, which is active in the Golden Triangle of British Columbia, in October.
In turn, asset management firm Crescat Capital will be exercising its pre-emptive right to purchase shares to maintain its 18.4% ownership of Goliath.
Crescat will undertake a private placement of up to 2.6-million charity flow-through units at a price of $1.15 apiece, for aggregate gross proceeds of C$3-million in this regard, maintaining its position as the largest long-term shareholder of Goliath.
McEwen is the founder and former chairperson of Goldcorp, as well as chief owner and chairperson of McEwen Mining.
Goliath CEO and founder Roger Rosmus says the company’s projects continue to attract experienced miners and smart long-term investors. He looks forward to McEwen and Crescat’s continued input and guidance as shareholders as the company advances its Surebet discovery, in British Columbia.
Goliath owns the Golddigger property covering 61 685 ha in the Eskay Rift within the Golden Triangle of British Columbia.
The Surebet discovery, in particular, has exceptional metallurgy with gold recoveries of 92.2%.
The company also owns the Lucky Strike property near Terrace in British Columbia, with two highly prospective targets having been permitted for drilling.