Free Flow, Inc. Announces Heavy Melting Scrap Metal Purchase Agreement Valued at $14 Million

Rhea-AI Summary

Free Flow, Inc. (OTCQB: FFLO) has announced a new purchasing agreement for heavy melting scrap metal valued at $14 million, involving approximately 45,000 metric tons. The agreement marks a significant milestone in enhancing shareholder value according to CEO Sabir Saleem. Pricing will align with international price indexes from COMEX or the LME. The client is a well-established international supplier with over 30 years in commodity trading. Free Flow is committed to sustainability by providing recycled auto parts and reducing the carbon footprint in production.

Positive

• New purchasing agreement valued at $14 million.
• Deal involves approximately 45,000 metric tons of scrap metal.
• Client has over 30 years of experience in commodity trading.

Negative

• None.

KING GEORGE, VA, Aug. 15, 2022 (GLOBE NEWSWIRE) -- Free Flow, Inc. (OTCQB: FFLO), is pleased to announce a new heavy melting scrap metal purchasing agreement valued at $14 million. The purchasing agreement is expected to involve a total of approximately 45,000 metric tons.

Mr. Sabir Saleem, Free Flow, Inc. Chief Executive Officer stated, "Adding a new scrap metal purchasing agreement worth $14 million in contract value is another significant milestone for Free Flow as we continue to enhance shareholder value.”

The contracted client is a major international supplier of commodities to industrial consumers, and its management possess over a 30-year history in bulk commodity trading and shipping.

Pricing for the scrap metal will be determined by the international published price index as reported by COMEX (Commodity Exchange Inc.) or the LME (the London Metal Exchange) on the date of supply order.   The goods which may be subject to the agreement include ISRI 202 heavy melting scrap (80/20) ½ and ISRI 211 shredded steel.

ABOUT FREE FLOW, INC.

Free Flow, Inc., based King George, Virginia is a publicly traded company listed under the stock symbol (FFLO). The company’s current worldwide business includes the sale of heavy melting scrap metal and used auto parts.

Free Flow headquarters and warehousing facilities are located on 19 acres, which provides OEM (Original Equipment Manufacturer) recycled auto parts and supplies. The Company continues to help reduce the carbon footprint involved in the production of new parts and steel products through the sales of recycled auto parts and supplies in the USA and internationally.

In the United States, approximately eleven million cars are scrapped and end up in salvage yards for reprocessing annually.

Forward- Looking Statements

The information in this press release includes "forward-looking statements" pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical fact included in this press release, regarding the proposed Business Transaction, the ability of the parties to consummate the proposed Business Transaction, the benefits and timing of the proposed Business Transaction, as well as the future operations and financial performance, estimated financial position, estimated revenues and losses, projections of market opportunity and market share, projected costs, prospects, plans and objectives of management are forward-looking statements. Such statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on the management of FFLO’s belief or interpretation of information currently available.

These forward-looking statements are based on various assumptions, whether or not identified herein, and on the current expectations of FFLO’s management and are not predictions of actual performance. Because forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions, whether or not identified in this press release, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. These forward-looking statements should not be relied upon as representing FFLO’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

FAQ

What is the value of the new purchasing agreement announced by Free Flow, Inc. on August 15, 2022?

The new purchasing agreement is valued at $14 million.

How much metal is involved in Free Flow, Inc.'s new agreement?

The agreement involves approximately 45,000 metric tons of heavy melting scrap metal.

What stock symbol does Free Flow, Inc. operate under?

Free Flow, Inc. operates under the stock symbol OTCQB: FFLO.

What pricing index will Free Flow, Inc.'s scrap metal prices be based on?

Pricing will be based on the international published price index from COMEX or the LME.