PIEDMONT, QC, Oct. 15, 2021 /CNW Telbec/ - Goldflare
Exploration Inc. (TSXV: GOFL) ("Goldflare" or "the
Company") announces flow-through private placement financing (the
"Placement") available to eligible investors, up to
13,636,363 flow-through common shares of the Company, at a
price of $0.055 per unit
(1 = 1 common share + ½ warrant
allowing the holder to acquire 1 common share at a price of
$0.065 per share, for a period of 24
months following the closing of the Placement), for gross proceeds
of approximately $750,000.
The funding is expected to close on or around October 29, 2021, and is subject to finalization
of formal documentation and receipt of regulatory approvals,
including approval from the TSX Venture Exchange.
The securities to be issued as part of the financing will be
subject to a minimum holding period of four months plus one day
following the closing date.
The Placement proceeds will be used to finance "Canadian
exploration expenses" ("CEEs") (within the meaning of the Income
Tax Act (Canada)) on the Company's
mining claims located in Quebec,
including on its Aiguebelle-Goldfields, Syénite Condor and
The Company will therefore agree to renounce these exploration
expenditures in Canada with an
effective date no later than December 31,
SOURCE Goldflare Exploration Inc.