M3 Metals Corp. (TSX-V: MT; FSE: XOVN.F) (“M3 Metals” or the “Company”) is pleased to announce that it has entered into a mineral property option agreement dated effective September 29, 2020 (the "Option Agreement") with Big Rock Resources Inc. ("Big Rock") whereby Big Rock was granted the option for a period of ninety (90) days to acquire a 100% right, title and interest in and to the Company's Aspen Property (the "Property") in exchange for the payment to the Company of CDN$100,000 and the issuance to the Company of 3,000,000 of Big Rock's common shares.
The Property is comprised of five mineral claims totalling over 3,000 hectares in the aggregate and located in the Blackwater area of British Columbia.
In addition, the Company wishes to report that Big Rock has entered into a share exchange agreement dated October 1, 2020 (the "Share Exchange Agreement") with Cyon Exploration Ltd. ("Cyon"), a TSX Venture listed company. Under the terms of the Share Exchange Agreement, Cyon is to issue a total of 6,000,000 of its common shares to the shareholders of Big Rock in exchange for those shareholders' Big Rock shares. Upon exercise of the Option Agreement and assuming closing of the Share Exchange Agreement, the Company will exchange its 3,000,000 common shares of Big Rock for 3,000,000 common shares of Cyon.
Both the Option Agreement and the Share Exchange Agreement were negotiated at arm's length and were not entered into by related parties.
ABOUT M3 METALS CORP.
M3 METALS CORP.
Adrian Smith, President
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.