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District Copper Announces Option Agreement with Sokoman Minerals on Stony Lake Property and Private Placement
Vancouver, British Columbia--(Newsfile Corp. - October 8, 2025) - District Copper Corp. (TSXV: DC...
About this update from District Copper Corp.
[{"type":"text","content":"District Copper Announces Option Agreement with Sokoman Minerals on Stony Lake Property and Private PlacementVancouver, British Columbia--(Newsfile Corp. - October 8, 2025) - District Copper Corp. (TSXV: DCOP) (\"District Copper\" or the \"Company\") is pleased to announce that it has entered into an option agreement (the \"Agreement\") dated October 2, 2025, with Sokoman Minerals Corp. (\"Sokoman\") regarding the Company's 25% interest in the Stony Lake Gold Property, located in central Newfoundland.Under the terms of the Agreement, Sokoman may acquire District Copper's 25% interest in the Stony Lake Property by issuing to the Company a total of 500,000 common shares of Sokoman, subject to receipt of all necessary regulatory approvals.Additionally, District Copper is pleased to announce that it will be proceeding with a private placement financing of up to $350,000 (the \"Financing\") through the issuance of 4,666,666 units at a price of $0.075 per unit (\"Unit\"). Each Unit will consist of one share and one transferable share purchase warrant (\"Warrant\"), with each Warrant being exercisable at a price of $0.12 for period of 2 years from the date of issuance. In circumstances where, at any time after the expiry of the four month hold period, the Company's stock trades at $0.20 or greater for 20 consecutive trading days, District Copper may give notice accelerating the expiry date of the exercise period of the Warrants to that date which is 10 days from the date of such notice.The funds will be used for general working capital purposes, exploration on the Company's 100% owned Copper Keg project in BC and potential new acquisition/option opportunities. The Corporation may pay finder's fees of 8% cash and 8% warrants on the private placement, or a portion thereof.Jevin Werbes, Chief Executive Officer of District Copper, commented:\"We are pleased to complete this transaction with Sokoman Minerals, a company with extensive experience and proven exploration success in Newfoundland. This agreement allows District Copper to retain exposure to future discovery upside through its share position in Sokoman while freeing up resources to focus on our other exploration and development opportunities.\"The Stony Lake Gold Property, located within the prolific Exploits Subzone of Newfoundland's central gold belt, lies adjacent to Sokoman's M...