M3 Metals Corp. (TSX-V: MT; FSE: XOVN.F) (“M3 Metals” or the “Company”) is pleased to announce that it has received an initial payment of CDN$300,000 under the terms and conditions of a definitive mineral property option agreement (the "Definitive Agreement" as that term is defined below).
The Company previously announced on July 13, 2020 that it had entered into a definitive mineral property option agreement dated effective July 4, 2020 (the "Definitive Agreement"). The Definitive Agreement is a mineral property option agreement whereby ML Nevada Corp. ("M3 Metals Nevada"), a wholly owned Nevada incorporated subsidiary of the Company, granted to Huffington Capital Corp. ("Huffington") an option to acquire up to a 90% interest in a mineral property option and purchase agreement concerning the Company's Mohave Gold Project.
The terms and conditions of the Definitive Agreement remain as disclosed in the July 13, 2020 news release (and can be referenced by reviewing that news release) save and except that a CDN$400,000 payment to the Company due to be made by Huffington on the fifteen month anniversary of the Definitive Agreement has been changed to the eighteen month anniversary of the Definitive Agreement.
On Tuesday, November 10, 2020 Huffington will complete a name change and begin trading on the TSX Venture Exchange as a Tier II Issuer under the symbol "BMG" and the new corporate name "Black Mountain Gold USA Corp.". Future references, if any, in the Company's disclosure to Black Mountain Gold USA Corp. are references to Huffington.
ABOUT M3 METALS CORP.
M3 METALS CORP.
Adrian Smith, President
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ 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.