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Flow Metals Corp. (CSE: FWM) ("Flow Metals" or the "Company") is pleased to announce that it will conduct a non-brokered private placement to raise aggregate gross proceeds of up to $400,000 (the "Offering").
"Following the grant of a 10-year Class 3 Quartz exploration permit at Sixtymile, we are preparing for a substantially expanded work program next year," stated Scott Sheldon, President and CEO of Flow Metals. "This financing positions us to begin preparations for a focused drill campaign in 2026 aimed at advancing the core targets at Sixtymile and evaluating additional high-priority structures across the property."
The Offering will consist of units (each, a "Unit") issued at a price of $0.05 per Unit. Each Unit will consist of one common share of the Company and one-half of one transferable common share purchase warrant (with two such half warrants being a "Warrant"). Each Warrant will entitle the holder for a period of twenty-four (24) months from the date of issue, to purchase one additional common share of the Company at an exercise price of $0.10 per share.
The Company plans to use the net proceeds of the Offering to fund exploration and development of its projects in the Yukon and British Columbia, for working capital and general corporate purposes.
The Company anticipates that current insiders of the Company may participate in the Offering. Finder's fees may be paid in cash and/or warrants to qualified persons who introduce the Company to investors. The Offering may be closed in one or more tranches as subscriptions are received. The securities issued in connection with the Offering will be subject to a four-month hold period in accordance with applicable securities laws.
The securities offered have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold absent registration or compliance with an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
About Flow Metals
Flow Metals Corp. is focused on advancing its two 100%-owned, road-accessible projects located in established mining districts. The Company's flagship asset is the Sixtymile hard-rock gold project in Yukon, situated in the heart of the historic Sixtymile placer camp.
For further information, please contact:
Scott Sheldon, President
604.725.1857
scott@flowmetals.com
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding: the completion of the Offering and the anticipated gross proceeds therefrom; the timing, terms and closing of the Offering, including the potential participation of insiders and the payment of finder's fees; the intended use of proceeds of the Offering; the Company's exploration and development plans at its properties in the Yukon and British Columbia, including the scope and timing of future work programs and any planned drill campaign in 2026; and other future plans, expectations, objectives, or intentions of the Company.
Forward-looking information is based on a number of assumptions that the Company believes are reasonable at the time such statements are made, including assumptions regarding: the ability to raise the anticipated proceeds under the Offering; the receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange, if required; market conditions and investor interest; the Company's ability to access the Offering proceeds as planned; the availability of contractors, equipment and other resources to carry out exploration programs; and general business, economic and commodity price conditions.
Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to differ materially from any future results, performance, or achievements expressed or implied by such forward-looking information. Such risks and uncertainties include, among others: the risk that the Offering may not close on the terms announced or at all; the risk that definitive documentation may be delayed or not finalized; the risk that regulatory approvals are not received in a timely manner or at all; market volatility and changes in investor demand; risks relating to the use of proceeds and the Company's ability to deploy funds as anticipated; exploration and operating risks; commodity price fluctuations; and other risks described in the Company's public disclosure documents available under the Company's profile at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking information. All forward-looking information contained in this release is made as of the date of this release, and the Company disclaims any intent or obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277238
