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Flow Metals Corp. (CSE: FWM) ("Flow Metals" or the "Company") announces that it has mutually agreed with Go Metals Corp. ("GOCO") to terminate the option agreement dated February 9, 2026 (the "Option Agreement"), pursuant to which the Company had been granted an option to acquire a 100% undivided interest in the Monster IOCG project (the "Monster Project"), located approximately 90 kilometres north of Dawson City in the traditional territory of the Tr'ondek Hwech'in First Nation.
The Option Agreement has been terminated pursuant to a mutual termination and release agreement entered into by the parties on March 25, 2026. The parties have agreed to terminate the Option Agreement as part of their respective ongoing reviews of strategic priorities and opportunities, and the transactions contemplated by the Option Agreement will not proceed.
The Company confirms that no shares, cash or other consideration were issued or paid under the Option Agreement, the option was not exercised, and no transfer of the Monster Project occurred.
The Company also announces that it has closed the previously announced debt settlement agreements (the "Settlement Agreements") with the vendors of the Sixtymile Property (the "Creditors") to settle the annual advanced royalty payment of $30,000 owing under the option agreement dated March 23, 2019, pursuant to which the Company has the option to acquire the Sixtymile Property.
Pursuant to the Settlement Agreements, the Company has issued an aggregate of 272,727 common shares in the capital of the Company (the "Common Shares") at a deemed price of $0.11 per Common Share to the Creditors (the "Debt Settlements").
In accordance with applicable securities laws, the securities issued pursuant to the Debt Settlements are subject to a four month hold period expiring on July 26, 2026.
The securities being referred to in this news release have not been, nor will they be, registered under the United States (U.S.) Securities Act of 1933, as amended, and may not be offered or sold in the U.S. or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Flow Metals
Flow Metals group has maintained an active presence in the Yukon since 2018, building deep technical expertise and local relationships across the territory. Flow Metals has established a trusted network of experienced contractors and strong working relationships with both territorial and First Nation governments, providing the Company with a solid foundation to efficiently advance exploration projects in the North.
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 laws. Forward-looking information includes, but is not limited to, statements regarding: the effect of the mutual termination of the Option Agreement and the completion of the Debt Settlements; the Company's review of strategic priorities and opportunities; the Company's future plans, objectives and opportunities; and any other statements regarding future activities, events or developments that are not historical facts.
Forward-looking information is based on assumptions that the Company believes are reasonable as of the date hereof, including assumptions regarding: the accuracy of the Company's current expectations and objectives; the anticipated effects of the mutual termination of the Option Agreement and the completion of the Debt Settlements; the Company's ability to evaluate and pursue strategic opportunities on a timely basis and on acceptable terms; and general business, economic, market and industry conditions.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, among others: the risk that the anticipated effects of the termination of the Option Agreement and the Debt Settlements may differ from management's current expectations; the risk that the Company may not identify, evaluate or pursue strategic opportunities as currently contemplated, or at all; changes in business, market, economic or regulatory conditions; commodity price fluctuations; market volatility; and other risks described in the Company's public disclosure documents available under the Company's profile on SEDAR+.
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/290009
