PIEDMONT, QC, Dec. 22,
2022 /CNW Telbec/ - Goldflare Exploration Inc.
(TSXV: GOFL) ("Goldflare" or "the Company") announces the
closing of a flow-through private placement of $450,000 offered to eligible investors at a price
of $0.08 per common share. The
offering totals 5,625,000 flow-through shares.
No insider participated to this placement and $27,000 intermediary fees were engaged.
The offering is subject to final approval from the TSX Venture
Exchange.
The securities to be issued will be subject to a minimum holding
period of four months plus one day.
The placement proceeds will be used to finance "Canadian
Exploration Expenses" ("CEEs") (within the meaning of the Income
Tax Act (Canada)) on Goldflare's
Syenite Condor mining claims, located in Quebec.
The Company will therefore agree to renounce these exploration
expenditures in Canada with an
effective date no later than December 31,
2022.
SOURCE Goldflare Exploration Inc.