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  • District Metals (DMX) has announced a $3 million private placement
  • Haywood Securities Inc. as sole lead agent has agreed to sell up to 12,000,000 units at a price of $0.25 per unit
  • The offering is scheduled to close on or about December 14, 2021
  • District Metals Corp is a Canadian-based mineral exploration company
  • District Metals Corp. (DMX) opened trading at C$0.275 per share

District Metals (DMX) has announced a $3 million private placement.

Haywood Securities Inc. as the sole lead agent has agreed to sell up to 12,000,000 units at a price of $0.25 per unit.

Each unit will include one common share and one-half of one common share purchase warrant. Each whole purchase warrant will entitle the holder to acquire one common share at a price of $0.35 for 24 months from the closing date.

The company has granted the agents an option to sell up to an additional 15 per cent of units to cover over-allotments.

The net proceeds will be used for exploration at the Tomtebo project in Sweden, and for working capital and general corporate purposes.

The offering is scheduled to close on or about December 14, 2021, and is subject to the receipt of all necessary regulatory approvals and acceptance of the TSX Venture Exchange.

The securities issued will be subject to a statutory hold period of four months and one day following the closing date.

District Metals Corp is a Canadian-based mineral exploration company engaged in the business of acquiring, exploring, and evaluating natural resource properties.

District Metals Corp. (DMX) opened trading at C$0.275 per share.

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