Reflex Advanced Materials Corp. Announces Sale of ZigZag Property

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VANCOUVER, British Columbia, Jan. 08, 2024 (GLOBE NEWSWIRE) — Reflex Advanced Materials Corp. (CSE:RFLX) (OTCQB:RFLXF) (FSE:HF2) (“Reflex” or the “Company”) is pleased to announce that it has sold a 100% interest in the ZigZag Lake Lithium Property (the “Property”), located near Crescent Lake, Ontario, to Integral Metals Corp. (the “Purchaser”) pursuant to a property purchase agreement dated January 8, 2024 (the “Purchase Agreement”).

Pursuant to the Purchase Agreement, the Purchaser has paid $400,000 to the Company and issued 1,000,000 common shares in the capital of the Purchaser (the “Consideration Shares”) in consideration for the Property. In connection with the closing of the Property acquisition by the Purchaser, Reflex exercised its option in respect of the Property in accordance with the mineral property option agreement dated September 1, 2021, following which it conveyed title to the Property to the Purchaser pursuant to the Purchase Agreement. The Consideration Shares will be subject to an indefinite hold period under applicable securities laws that will expire four months and one day after the later of the date of issuance of the Consideration Shares and the date that the Purchaser has become a reporting issuer in any province or territory of Canada. In addition, the Consideration Shares will be subject to a 24-month escrow release schedule with 250,000 Consideration Shares being released every six months following issuance. No finder’s fees or commissions are being paid in connection with the sale of the Property.

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ON BEHALF OF THE BOARD OF DIRECTORS

Paul Gorman
CEO & Director

Reflex Advanced Materials Corp.
Suite 915 – 700 West Pender Street
Vancouver, BC V6C 1G8 Canada
Tel: (778) 837-7191
Email: info@reflexmaterials.com

About Reflex Advanced Materials

Reflex Advanced Materials Corp. is a mineral exploration company based in British Columbia. Its objective is to locate and, if warranted, develop…