Goldflare Completes $265,000 Private Placement of Common Shares

Goldflare Exploration Inc. (TSXV:GOFL) has announced the successful closing of a private placement, raising $265,000. The placement was offered to eligible investors at a price of $0.045 per unit. Each unit consists of one common share and one warrant. The warrant allows the holder to purchase an additional common share at $0.07 within 12 months of the closing date.

The offering comprises a total of 5,888,889 common shares. No insiders participated, and no intermediary fees were incurred. The transaction awaits final approval from the TSX Venture Exchange. The issued securities will have a mandatory holding period of four months plus one day.

The proceeds will be employed for the company's working capital needs.