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GOLDFLARE ANNOUCES THE CLOSING OF ITS FLOW-THROUGH FINANCING

PIEDMONT, QC, Nov. 23, 2022 /CNW Telbec/ - Goldflare Exploration Inc. (TSXV: GOFL) ("Goldflare" or "the Company") announces the closing of a flow-through private placement of $149,020 offered to eligible investors at a price of $0.06 per common share. The offering totals 2,483,666 flow-through shares.

No insider participated to this placement and $4,500 intermediary fees were engaged.

The offering is subject to final approval from the TSX Venture Exchange.

The securities to be issued will be subject to a minimum holding period of four months plus one day.

The placement proceeds will be used to finance "Canadian Exploration Expenses" ("CEEs") (within the meaning of the Income Tax Act (Canada)) on Goldflare's Syenite Condor mining claims, located in Quebec.

The Company will therefore agree to renounce these exploration expenditures in Canada with an effective date no later than December 31, 2022.

The TSX Venture Exchange and its regulatory service provider (as defined by the TSX Venture Exchange rules) cannot be held responsible for the accuracy or veracity of this press release.

SOURCE Goldflare Exploration Inc.

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View original content: http://www.newswire.ca/en/releases/archive/November2022/23/c8970.html