Business
District Announces $6 Million Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - May 12, 2025) - District Metals Corp. (TSXV: DMX)...
About this update from District Metals Corp.
[{"type":"text","content":"District Announces $6 Million Private Placement FinancingVancouver, British Columbia--(Newsfile Corp. - May 12, 2025) - District Metals Corp. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQB: DMXCF) (FSE: DFPP); (\"District\" or the \"Company\") is pleased to announce a non-brokered private placement financing under the Listed Issuer Financing Exemption (as defined below), whereby the Company intends to raise up to C$5,000,000 through an offering of up to 18,518,518 common shares in the capital of the Company (the \"Shares\") to be priced at C$0.27 per Share (the \"LIFE Offering\"). The Shares offered under the LIFE Offering will not be subject to a hold period in accordance with applicable Canadian securities laws.Concurrent with the LIFE Offering, the Company is pleased to announce a non-brokered private placement financing whereby the Company intends to raise up to C$1,000,000 through an offering of up to 3,703,703 Shares to be priced at C$0.27 per Share (the \"NBPP Offering\" and together with the LIFE Offering, the \"Offering\"). The Shares offered under the NBPP will be subject to a four month and one day 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 anticipates paying a finder's fee to Pareto Securities AB (\"Pareto\") in connection with purchasers that may be introduced by Pareto to the Offering. Any finder's fees payable will be in accordance with the policies of the TSX Venture Exchange (the \"TSXV\"). The Offering is scheduled to close on or about May 21, 2025, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSXV. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions (\"NI 45-106\"), the LIFE Offering is being made pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the \"Listed Issuer Financing Exemption\"). The NBPP Offering is made pursuant to prospectus exemptions under NI 45-106 including, but not limited to, the accredited investor exemption.The securities being offered have not, nor will they be registered under the United...