Northwire Canada EditionMonday, July 13, 2026
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Financings

Goldflare Announces Its Reinstatement to Trading Along with Other Updates

By The Northwire Desk — AI Analysis Dec 17, 2025 · 21:56 GOFL · 0.035 Goldflare Exploration Inc.
GOFL · Price

Executive Summary

  • Goldflare Exploration Inc. has accepted a CAD $250,000 cash offer from Multi‑Ressources Boréal to sell its Duplessis‑Agar and Duplessis‑Mountain properties (16 mining titles) in the Abitibi region.
  • The company corrected details of its March 14 2025 private placement: final proceeds of $15,000 at $0.045 per unit (333,334 units), with associated warrant terms and a four‑month holding period.
  • Goldflare disclosed reinstatement conditions, including an AGM scheduled for 6 March 2026, and outlined its plan to raise additional capital via flow‑through and common‑share private placements after reinstatement.

Key Details

  • Asset Sale Offer – CAD $250,000 payable in three cash instalments within 30 days of signing a definitive agreement; no related‑party transaction; subject to due diligence and regulatory approvals; includes existing 1 % NSR royalty; no fees associated with the transaction.
  • Private Placement Correction – Final amount raised: $15,000; price per unit: $0.045; each unit = 1 common share + 1 warrant (exercise price $0.07, exercisable for 12 months post‑closing); total units issued: 333,334; minimum holding period: four months plus one day; proceeds earmarked for working capital.
  • Market‑Making Services – Retained Venture Liquidity Providers Inc. (VLP) on 9 Oct 2024; fee $5,000 CAD per month for an initial three‑month term (renewable monthly); agreement terminated 10 Jan 2025; VLP also received 492,500 warrants at $0.09 strike price, all expired unexercised on 9 Oct 2025.
  • AGM Compliance – No AGM held since 21 Aug 2024; reinstatement condition requires AGM within 90 days; scheduled for 6 Mar 2026, 10:00 a.m., via Microsoft Teams (details filed on SEDAR+).
  • Working Capital Position – Interim financial statements (ended 31 May 2025) showed a working‑capital deficiency of $350,203; post‑sale of Duplessis assets, most creditors have been paid.
  • Future Capital Raising Plans – Intends to conduct flow‑through and common‑share private placements after reinstatement to meet the TSX‑V minimum CLR working‑capital requirement.
  • Largest Creditor Arrangement – Orbit Garant (CAD $180,000) may accept payment in Goldflare shares if the company’s financial situation warrants it, contingent on reinstated trading status.

Notable Quotes

“Following the sale of its Duplessis assets and the repayment of most creditors, we are positioned to pursue additional financing to satisfy TSX‑V reinstatement requirements and support future growth.” – Michel Desjardins, CEO

Read the original news release →

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