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.
SOURCE Goldflare Exploration Inc.