Goldflare Announces a Proposed Share Consolidation on a 5 for 1 Basis

PIEDMONT, QC / ACCESSWIRE / July 24, 2024 / Goldflare Exploration Inc. (TSXV:GOFL) has announced its board of directors approved a proposed 5 to 1 share consolidation. This proposal is pending shareholder approval at the upcoming annual and special meeting on August 21, 2024.

The board believes the consolidation will help raise additional capital in the future. For the resolution to pass, it must receive at least two-thirds of the votes cast by shareholders at the meeting.

Currently, Goldflare has 123,364,533 shares issued and outstanding. If approved, post-consolidation shares would total approximately 24,672,907.

The company's name and articles of incorporation will remain unchanged. Additionally, insiders participated in private placements closed on July 19th, subscribing to significant units totaling $50,000.