Goldflare Announces The Closing Of Its Common Share Private Placement

PIEDMONT, Nov. 21, 2022 - Goldflare Exploration Inc. (TSXV: GOFL) ("Goldflare" or "the Company") announces the closing of a private placement of $50,000 offered to eligible investors at a price of $0.05 per unit (1 unit = 1 common share + 1 warrant allowing the holder to acquire 1 common share at a price of $0.065 per share, for a period of 24 months following the closing of the Placement). The offering totals 1,000,000 common shares.

No insider participated to this placement and no 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 for working capital requirements.

^{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.