Goldflare Exploration Inc. announced a private placement of 4,000,000 units at a price of CAD 0.025 per unit for gross proceeds of CAD 100,000 on November 14, 2023. Each unit consists of one common share and one warrant allowing the holder to acquire one common share at a price of CAD 0.05 per share, for a period of 24 months following the closing. The transaction will include participation from eligible investors.

The closing is expected on November 30, 2023. The 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.