Canada NewsWire
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.
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