PIEDMONT, QC / ACCESSWIRE / June 27, 2024 / Goldflare Exploration Inc. (TSXV:GOFL) ("Goldflare" or "the Company") announces a private placement offering (the "Placement") presented to eligible investors, at a price of $0.015 per unit (1 unit = one (1) common share at a price of $0.015 + one (1) warrant allowing the holder to acquire one common share at a price of $0.05 per share, for a period of 36 months following the closing of the Placement) . The anticipated gross proceeds of the offering are expected to be between $50,000 and 100,000$, which represent between 3,333,333 and 6,666,666 units.

The second private placement offering (the "Placement") presented to eligible investors, at a price of $0.02 per unit (1 unit = one (1) flow-through share at a price of $0.02 + one (1) warrant allowing the holder to acquire one common share at a price of $0.05 per share, for a period of 12 months following the closing of the Placement). The anticipated gross proceeds of the offering are expected to be between $50,000 and 100,000$, which represents between 2,500,000 and 5,000,000 units.

Closing for both placements are expected by July 12th, 2024. These private placements are 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 placements will be subject to a minimum holding period of four months plus one day following the closing date.

The proceeds from the common share offering will be used to finance the Company's working capital needs and the proceeds from the flow-through share offering will be used to finance the Company's exploration expenses.

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SOURCE: Goldflare Exploration Inc.