District Metals (DMX.V): Announces Closing of $4.75 Million Private Placement Financing

December 30, 2020 – District Metals Corp. (TSX-V: DMX) (FRA: DFPP); (“District” or the “Company”) is pleased to announce that it has closed its previously announced brokered private placement financing pursuant to an agency agreement with Haywood Securities Inc. (the “Agent”), raising aggregate gross proceeds of $4,750,000 (the “Offering”). Under the terms of the Offering, the Company issued a total of 15,833,333 units (the “Units”) at a price of $0.30 per Unit (the “Issue Price”), including the exercise by the Agent of an option granted by the Company to sell up to an addition $250,000 worth of Units.

Garrett Ainsworth, President & CEO of District, commented: “District Metals is now fully funded for the upcoming 5,000 m drill program at our high grade polymetallic Tomtebo Property located in the Bergslagen Mining District of south-central Sweden.  Our financing was heavily oversubscribed, exemplifying the enthusiasm towards the discovery potential at our high priority Tomtebo targets. I would like to thank our existing shareholders who participated, as well as welcome many new shareholders, including several institutional investors.”  

CLICK HERE to read the full news release.