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District Metals Announces Closing of $10 Million Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - May 12, 2026) - District Metals Corp. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQX: DMXCF) (FSE: DFPP);
About this update from District Metals Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - May 12, 2026) - District Metals Corp. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQX: 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) as supplemented and amended by Blanket Order 45-935 (as defined below), whereby the Company raised C$9,999,999.76 through an offering of 14,705,882 common shares in the capital of the Company (the \"Shares\") at C$0.68 per Share (the \"Offering\"). The Shares offered under the Offering are not subject to a hold period in accordance with applicable Canadian securities laws. Garrett Ainsworth, CEO of District, commented: \"Closing this significant $10 million financing with Pareto marks another important step for District as we continue to advance our high-quality portfolio of uranium properties in Sweden. We are very pleased with the strong demand and support from both existing and new institutional investors, which reflects growing confidence in our strategy, our assets and our team. With a strengthened treasury, we are well-positioned to accelerate exploration activities and unlock further value across our projects.\" 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$487,504.99 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 (\"Blanket Order 45-935\"). 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 Un...