Goldflare Announces a Flow-Through Financing

ACCESS Newswire
20 Nov 2023, 22:38 GMT+10

PIEDMONT, QC / ACCESSWIRE / November 20, 2023 / Goldflare Exploration Inc. (TSXV:GOFL) ('Goldflare' or 'the Company') announces a private placement offering (the 'Placement') presented to an eligible investor, at a price of $0.03 per unit (1 unit = 1 Flow-Through share at a price of $0.03 each). The gross proceeds of the offering are expected to be $120,000 or 4,000,000 units.

Closing is expected on November 24, 2023. This private placement is subject to the finalization of formal documentation, regulatory approvals and conditional on the approval of 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 proceeds of the flow-through share offering will be used to finance 'Canadian exploration expenses' ('CEE') (within the meaning of the Canadian Income Tax Act) on mining claims of the Company located in Quebec, mainly on its Goldfields property. Thus, the Company will agree to waive these exploration expenses in Canada, in favor of investors participating in the Placement, with an effective date of no later than December 31, 2023.

CONTACT:

Ghislain Morin
CEO
819-354-9439
[email protected]
or
Serge Roy
Chairman of the Board
819-856-8435
[email protected]

SOURCE: Goldflare Exploration Inc.

View source version on accesswire.com:
https://www.accesswire.com/807200/goldflare-announces-a-flow-through-financing

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Toronto Telegraph.

More Information

null in null