Goliath Resources Inc. (OTCPK:GHRI) announced a private placement of 12,000,000 units at CAD 0.10 per unit for the gross proceeds of CAD 1,200,000 on April 19, 2017. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at CAD 0.15 per share for a period of two years. If at any time after four months after the closing date and shares have a closing price equal to or higher than CAD 0.30 per share for 10 consecutive trading days. The company will pay a finder’s fee to an arm’s length party an amount of 7% of the gross proceeds of the transaction and will issue compensation warrants equal to 7% of the number of units subscribed. On the same date, the company announced that it has received CAD 890,000 in the first tranche. The second tranche is expected to close by May 3, 2017.