Goldflare Announces an Increase of Expected Proceeds for Both Placement Offerings

Piedmont, QC / ACCESSWIRE / July 2, 2024 – Goldflare Exploration Inc. (TSXV:GOFL) ("Goldflare" or "the Company") reports that subscriptions for its current placements, opened on June 27, have exceeded initial expectations, particularly in the flow-through placement which shows sustained demand.

The first private placement is offered to eligible investors at $0.015 per unit. Each unit consists of one common share and one warrant to acquire a share at $0.05 within 36 months. The expected gross proceeds are now $150,000, representing 10,000,000 units.

The second private placement, also for eligible investors, is priced at $0.02 per unit. Each unit includes one flow-through share and one warrant to acquire a share at $0.05 within 12 months. The expected gross proceeds are $200,000, representing 10,000,000 units.

The placements are due to close by July 12, 2024, pending final documentation, regulatory approvals, and TSX Venture Exchange approval. The issued securities will be subject to a four-month holding period.