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District Announces Closing of $6 Million Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2025) - District Metals Corp. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQB: DMXCF) (FSE: DFPP); ("District" or the "Company") is pleased to announce that it has closed its non-brokered private placement financing under the Listed Issuer Financing Exemption (as defined below), whereby the Company raised C$6,000,000 through an offering of 22,222,221 common shares in the capital of the Company (the "Shares") at C$0.27 per Share (the "Offering"). The Shares offered under the Offering are not subject to a hold period in accordance with applicable Canadian securities laws.
The Company intends to use the net proceeds of the Offering to fund exploration activities on the Company's projects in Sweden, and for general corporate purposes. The Company paid a finder's fee to Pareto Securities AB ("Pareto") of C$299,999.98 in connection with purchasers introduced by Pareto to the Offering. The Company also paid certain expenses of Pareto reasonably incurred in connection with the Offering.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions ("NI 45-106"), the Offering was made pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the "Listed Issuer Financing Exemption") and in reliance on the exemptions in Coordinated Blanket Order 45-935 Exemptions from Certain Conditions of the Listed Issuer Financing Exemption.
The securities offered have not, nor will they be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any applicable securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent such registration or an applicable exemption from such registration requirements. This release does not constitute an offer for sale or the solicitation of an offer to buy any of the securities in the United States or to, or for the account or benefit of, a U.S. person. "U.S. person" and "United States" are as defined in Regulation S under the U.S. Securities Act, or elsewhere.
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