Flow Metals Makes Advanced Royalty Payment on Sixtymile Gold Project
Vancouver, British Columbia--(Newsfile Corp. - March 24, 2023) - Flow Metals Corp. (CSE: FWM) ("Flow Metals" or the "Company") announces that pursuant to the option agreement dated March 23, 2019 to acquire the Sixtymile Property, it has entered into debt settlement agreements ("Settlement Agreements") to settle a portion of the annual advanced royalty payment in cash and Common shares of the Company.
Pursuant to the Settlement Agreements, the Company has issued an aggregate of 136,500 Common shares at a deemed price of $0.11 per Common share.
Securities issued pursuant to the Settlement Agreements will be subject to a statutory hold period of four months plus a day from issuance in accordance with applicable securities laws.
About Sixtymile, Yukon
Sixtymile covers 65 km2 of quartz claim mining tenure over three active placer camps. The project is a 2 hour drive west of Dawson City and bumps up against the Alaska border. Four gold-bearing creeks on the project have produced over 200,000 ounces of placer gold since the discovery of gold at Sixtymile over 100 years ago.
About Flow Metals
Flow Metals is a mining exploration company focused on advancing two 100% owned road access projects in established mining districts of British Columbia and Yukon.
For further information, please contact:
Scott Sheldon, President
This press release may include "forward-looking information" (as that term is defined by Canadian securities legislation), concerning the Company's business. Forward-looking information is based on certain key expectations and assumptions made by the Company's management, including future plans for the exploration and development of its mineral properties. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws.
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