Answer:
FALSE
Step-by-step explanation:
The terms endothermic and exothermic reactions are based on flow of energy between a system (object of interest) and surroundings (everything else).
Consider a hot metal cylinder (object of interest) being added into a cool beaker of water => energy flows from the metal object (system) into surroundings that include water, beaker, air outside the beaker etc. This is an example of an exothermic reaction as the energy flow moves from the object of interest (metal) into surrounding water.
Now, consider adding an ice cube at 0°C (object of interest) into a quantity of water at say 25°C. The heat flow would move from the surrounding water into the ice cube until it was melted and continue to flow into the ice water until the temperature of the final mix stopped changing. This is an example of an endothermic reaction as energy flow moves toward the object of interest and away from surroundings.
In summary, endothermic and exothermic are ALWAYS defined with respect to the 'object of interest' in a system/surroundings heat exchange. So, in your question's statement about heat flow, the context is false because endothermic reactions GAIN energy (with respect to object of interest), not lose energy; and exothermic reactions LOSE energy (with respect to objects of interest) not gain energy.
Hope this helps, Doc :-)