(TheNewswire)
Vancouver, British Columbia, Canada– May 29, 2024 – TheNewswire – GOATIndustries Ltd. (“Company” or “GOAT”) (CSE: GOAT) (OTC: BGTTF)(FWB: 26B.F) is pleased to announce that it intends oncompleting a non-brokered private placement of up to 10,000,000 units(the “ Private PlacementUnits ”) of the Company at a price of CDN$0.095 per PrivatePlacement Unit (the “ OfferingPrice ”) for aggregate gross proceeds to the Company of up toCDN$950,000 (the “ Offering ”). Each Private Placement Unit will consist of onecommon share of the Company (“ Common Share ”) and one Common Share purchase warrant(“ Private PlacementWarrant ”), with each Private Placement Warrant beingexercisable for one Common Share for a period of two years, at a priceof CDN$0.15.
The Company may pay finder’s fees in connection with the Offering.The net proceeds of the Offering will be used for general workingcapital requirements. The Offering is expected to close on or aboutJune 30, 2024, and is subject to certain conditions including, but notlimited to, the receipt of all necessary approvals, including theapproval of the CSE. The Units, including all underlying securities,will be subject to a hold period of four months and one day from thedate of issue of the Units. It is not known at this time whether anyinsiders of the Company will participate in the Offering.
This news release shall not constitute an offer to sell or thesolicitation of an offer to buy, nor shall there by any sale of thesesecurities in any jurisdiction in which such offer, solicitation orsale would be unlawful prior to registration or qualification underthe securities laws of any such jurisdiction.
The Company also announces that it intends to enter into agreementswith certain creditors of the Company whereby outstanding indebtednessin the aggregate amount of CDN$316,156 (“ Debt ”) will be exchanged for, andthereafter evidenced by, convertible notes of the Company (“ Notes ”). The Notes will beunsecured, non-interest bearing, and will mature on the secondanniversary of their issuance (“ Maturity Date ”). Each Note will be convertible at theoption of its holder at any time prior to the Maturity Date into suchnumber of units (“ Units ”)as are equal to the outstanding amount of the Note divided by theconversion price, being CDN$0.095. Each Unit will be comprised of oneCommon Share and one Common Share purchase warrant (“ Warrants ”), with each Warrantexercisable for one Common Share for a period of two years, at a priceof CDN$0.15. If not converted, the Notes will be repayable in cash onthe Maturity Date.
The issuance of the Notes is expected to complete on or about June 5,2024 (“ Closing Date ”), andis subject to certain conditions including, but not limited to, thereceipt of all necessary approvals, including the approval of theCanadian Securities Exchange (the “ CSE ”). The Notes, and any securities issued upon theconversion thereof, will be subject to a hold period of four monthsand one day from the Closing Date.
GOAT is an investment issuer focused on investing in high-potentialcompanies operating across a variety of industries and sectors. Theparamount goal of the Company is to generate maximum returns from itsinvestments.
For more information about the Company, please visithttps://www.goatindustries.co/. The Company’s final prospectus,financial statements and management's discussion and analysis, amongother documents, are all available on its profile page on SEDAR+ atwww.sedarplus.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer Michael Leahy
Head Office Suite 2300, 550 Burrard Street, Vancouver,BC V6C 2B5
Telephone 1-204-801-3613
Website www.goatindustries.co
Email info@goatindustries.co
The CSE and Information Service Provider have not reviewed and doesnot accept responsibility for the accuracy or adequacy of thisrelease.
Forward-Looking Information
This news release contains "forward-looking information"within the meaning of applicable Canadian securities legislation,including in relation to the Company’s intention to complete theissuance of the Notes and the Offering. Generally, forward-lookinginformation can be identified by the use of forward-lookingterminology such as "plans", "expects" or"does not expect", "is expected","budget", "scheduled", "estimates","forecasts", "intends", "anticipates" or"does not anticipate", or "believes", orvariations of such words and phrases or state that certain acts,events or results "may", "could","would", "might" or "will be taken","occur" or "be achieved". Forward-lookinginformation is subject to known and unknown risks, uncertainties andother factors that may cause the actual results, level of activity,performance or achievements of the Company, as the case may be, to bematerially different from those expressed or implied by suchforward-looking information, including the risks that the issuance ofthe Notes or the completion of the Offering may not occur ascontemplated or at all. Although the Company has attempted to identifyimportant factors that could cause actual results to differ materiallyfrom those contained in forward-looking information, there may beother factors that cause results not to be as anticipated, estimatedor intended. There can be no assurance that such information willprove to be accurate, as actual results and future events could differmaterially from those anticipated in such statements. Accordingly,readers should not place undue reliance on forward-lookinginformation. Actual results and developments may differ materiallyfrom those contemplated by these statements depending on, among otherthings, the risks that the Company may terminate and not proceed withthe issuance of the Notes and/or the Offering, or that the issuance ofthe Notes and/or Offering will not be successfully completed for anyreason (including failure to obtain the required acceptance from theCanadian Securities Exchange). The Company does not undertake toupdate any forward-looking information, except in accordance withapplicable securities laws.
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