Flow Metals Announces Debt Settlement
810 – 789 West Pender Street
Vancouver, BC V6C 1H2
T: 604-725-1857
FLOW METALS ANNOUNCES DEBT SETTLEMENT
Vancouver, BC – December 21, 2020 – Flow Metals Corp. (“Flow Metals ” or the “ Company”)
(FWM:CSE) announces that it has entered into debt settlement agreements (“Settlement
Agreements”) to settle outstanding fees owed to Scott Sheldon and Jacob Verbaas, two insiders
of the Company (the “ Insiders”) for management fees totaling $24,000. The disinterested
Directors of the Company have approved the Settlement Agreements with each of the Insiders.
Pursuant to the Settlement Agreements, the Company will be issue an aggregate of 400,000
Common shares to the Insiders at a deemed price of $0.06 per Common share.
Securities issued pursuant to the Settlement Agreement s will be subject to a statutory hold
period of four months plus a day from issuance in accordance with applicable securities laws.
The debt settlement is exempt from the valuation and minority shareholder approval
requirements of Multilateral Instrument 61 -101 ( “MI 61 -101”) by virtue of the exemptions
contained in sections 5.5(a) and 5.7(1)(a) of MI 61 -101 in that the fair market value of the
consideration for the securities of the Company to be issued to the Insiders does not exceed
25% of its market capitalization.
About Flow Metals
Flow Metals is a gold explorer based in Vancouver with early stage gold projects in BC, the
Yukon and Quebec.
For further information, please contact:
Scott Sheldon, President
604.725.1857
Forward-Looking Information
This press release may include “forward -looking information” (as that term is defined by
Canadian securities legislation), concerning the Company’s business. Forwar d-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 assu mptions 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.