PIEDMONT, QC, Oct. 24, 2022 /CNW Telbec/ - Goldflare Exploration Inc. (TSXV: GOFL) ("Goldflare" or "the Company") announces the closing of a flow-through private placement of $368,000 offered to eligible investors at a price of $0.06 per common share. The offering totals 6,133,333 flow-through shares. The securities to be issued will be subject to a minimum holding period of four months plus one day.
No insider participated to this placement and intermediary fees of $20,880 were engaged.
The offering is subject to final approval from the TSX Venture Exchange.
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.
