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Flow Metals Closes $856,810 Private Placement

Flow Metals Corp (C:FWM)
Shares Issued 20,266,315
Last Close 8/25/2020 $0.11
Wednesday August 26 2020 – News Release

Mr. Scott Sheldon reports


Flow Metals Corp. has closed a non-brokered private placement with a lead order from Palisades Goldcorp Ltd., and it has issued a total of 9,516,782 units at a price of nine cents per unit for gross aggregate proceeds of $856,810. Each unit comprised one common share and one transferable share purchase warrant. Each warrant entitles the holder thereof to purchase one additional share of the company at a price of 15 cents for a period of 36 months from the date of issuance.

Finders’ fees of $61,112 cash and 679,026 finders’ warrants have been paid to qualified parties. Each finder’s warrant is exercisable at a price of 15 cents for a period of 36 months on the same terms of the warrants noted above. The company intends to use the proceeds from the private placement for general working capital, and exploration on its Sixtymile, New Brenda and Ashuanipi projects.

All securities issued in connection with the private placement are subject to a statutory hold period of four months and one day from the date of issuance.

About Flow Metals Corp.

The company seeks exciting data-rich gold projects with low capital requirements. The company holds a 100-per-cent interest in three Canadian gold projects.

We seek Safe Harbor.

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