District Provides Notice to Shareholders who Seek to Transfer Shares in Preparation for Nasdaq First North Growth Listing
918-1030 West Georgia Street, Vancouver, BC, V6E 2Y3
Telephone: (604) 288- 4430
District Provides Notice to Shareholders
who Seek to Transfer Shares in Preparation for
Nasdaq First North Growth Listing
Vancouver, B.C., Canada September 24, 2024
September 24, 2024 – District Metals Corp . (TSX -V: DMX) (OTCQB: DMXCF) (FRA:
DFPP); (“District” or the “Company”) is pleased to provide notice to s hareholders who would
like to transfer their common shares in the Company from the TSX Venture Exchange (“TSXV”)
to Swedish depository receipts (“SDRs”), financial instrument issued by a Swedish bank
representing shares in a non- Swedish company. The Company is currently in the process of
preparing for a potential secondary listing on the Nasdaq First North Growth Market (“Nasdaq
First North”) in Sweden.
To facilitate the conversion of common shares of District to SDRs in Sweden, shareholders are
encouraged to contact DNB Markets, a part of DNB Bank ASA, Sweden Branch, to receive
detailed instructions on how to proceed with the conversion of securities by ema iling Securities
Services & Custody at emissioner @dnb.se. DNB will reach out to shareholders via their bank or
broker in order to establish a conversion date for those who wish to convert their common shares
to SDRs.
Garrett Ainsworth, CEO, commented: “A significant increase of Swedish shareholders on
District’s share registry may be related to the excitement surrounding District’s 100% owned
Viken energy m etal deposit combined with the potential lifting of the uranium moratorium in
Sweden. This encouraging dynamic has led the Company to commence preparations for an
application to obtain a secondary listing on the Nasdaq First North to allow for Swedish investors
to more easily participate in District’s journey.”
Benefits of a Nasdaq First North l isting are represented to be:
• Proven Growth Platform : More than 120 Nasdaq First North listed companies have
grown and migrated to the Nasdaq Stockholm Main Market.
• Active Market : Strong investor demand for growth companies, both among retail
investors as well as domestic and international institutional investors.
• Global Brand: The Nasdaq brand brings visibility and credibility, and can potentially
help listed companies as they expand internationally and in talent acquisition (see Nasdaq
First North website).
Technical Information
All scientific and technical information in this news release has been prepared by, or approved by
Garrett Ainsworth, PGeo, President and CEO of the Company. Mr. Ainsworth is a qualified
person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral
Projects.
Mr. Ainsworth has not verified any of the information regarding any of the properties or projects
referred to herein other than District’s Properties. Mineralization on any other properties referred
to herein is not necessarily indicative of mineralization on District’s Properties .
About District Metals Corp.
District Metals Corp. is led by industry professionals with a track record of success in the mining
industry. The Company’s mandate is to seek out, explore, and develop prospective mineral
properties through a disciplined science -based approach to create shareholder value and benefit
other stakeholders.
District is a polymetallic exploration and development company focused on the Viken and
Tomtebo Properties in Sweden. The Viken Property covers 100% of the uranium-vanadium Viken
Deposit, which is an asset with substantial exploration and development expenditures that resulted
in the definition of large historic polymetallic resource estimates in 2010 and 2014. The Viken
Deposit is amongst the largest deposits by total historic mineral resources of uranium and
vanadium in the world.
The advanced exploration stage Tomtebo Property is located in the Bergslagen Mining District
of south- central Sweden and is situated between the historic Falun Mine and Boliden’s
Garpenberg Mine that are located 25 km to the northwest and southeast, respectively. Two historic
polymetallic mines and numerous polymetallic showings are located on the Tomtebo Property
along an approximate 17 km trend that exhibits similar geology, structure, alteration and
VMS/SedEx style mineralization as other significant mines within the district.
For further information on the Tomtebo Property, please see the technical report entitled “NI 43-
101 Update Technical Report on the Tomtebo Project, Bergslagen Region of Sweden” dated
effective October 15, 2020 and amended and restated on February 26, 2021, which is available
on SEDAR+ at www.sedarplus.ca.
On Behalf of the Board of Directors
“Garrett Ainsworth”
President and Chief Executive Officer
(604) 288-4430
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Statement Regarding “Forward-Looking Information ”
This news release contains certain statements that may be considered “forward- looking information” with respect to the
Company within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward- looking
information can be identified by the use of forward- looking terminology such as “plans”, “targets”, “expects” or “does not
expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not
anticipate” or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”,
“could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved” and any similar expressions. In addition, any
statements that refer to expectations, predictions, indications, projections or other characterizations of future events or
circumstances contain forward- looking information. Statements containing forward-looking information are not historical facts
but instead represent manage ment’s expectations, estimates and projections regarding future events. Forward- looking
information in this news release relating to the Company include, among other things, statements relating to the Company’s
expectations with respect to the lifting of the moratorium on uranium exploration and mining in Sweden; the Nasdaq First North
Growth Market listing and the timing and benefits therefrom ; the Company’s Swedish p olymetallic properties; the Company’s
planned exploration activities, including its drill target strategy and next steps for the Swedish p roperties; and the Company’s
interpretations and expectations about the results on the Swedish properties.
These statements and other forward- looking information are based on opinions, assumptions and estimates made by the
Company in light of its experience and perception of historical trends, current conditions and expected future developments, as
well as other factors that the Company believes are appropriate and reasonable in the circumstances, as of the date of this news
release, including, without limitation, assumptions about the reliability of historical data and the accuracy of publicly reported
information regarding past and historic mines in the Bergslagen district; and in respect of the intention of the Swedish
government to eventually lift or amend its moratorium on uranium exploration and mining in Sweden; the Company’s ability to
raise sufficient capital to fund planned exploration activities, maintain corporate capacity; and stability in financial and capital
markets.
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered
reasonable by the Company as of the date such statements are made, are subject to known and unknown risks, uncertainties,
assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially
different from those expressed or implied by such forward-looking information, including but not limited to risks associated with
the following: the reliability of historic data on District’s p roperties; the Company’s ability to raise sufficient capital to finance
planned exploration; that the Swedish government maintains its moratorium on uranium exploration and mining in Sweden for
the foreseeable future; the Company’s limited operating history; the Company’s negative operating cash flow and dependence
on third-party financing; the uncertainty of additional funding; the uncertainties associated with early stage exploration activities
including general economic, market and business conditions, the regulatory process, failure to obtain necessary permits and
approvals, technical issues, potential delays, unexpected events and management’s capacity to execute and implement its future
plans; the Company’s abilit y to identify any mineral resources and mineral reserves; the substantial expenditures required to
establish mineral reserves through drilling and the estimation of mineral reserves or mineral resources; the uncertainty of
estimates used to calculated mineralization figures; changes in governmental regulations; compliance with applicable laws and
regulations; competition for future resource acquisitions and skilled industry personnel; reliance on key personnel; title matters;
conflicts of interest; environm ental laws and regulations and associated risks, including climate change legislation; land
reclamation requirements; changes in government policies; volatility of the Company’s share price; the unlikelihood that
shareholders will receive dividends from the Company; potential future acquisitions and joint ventures; infrastructure risks;
fluctuations in demand for, and prices of metals ; fluctuations in foreign currency exchange rates; legal proceedings and the
enforceability of judgments; going concern risk; risks related to the Company’s information technology systems and cyber -
security risks; and risk related to the outbreak of epidemics or pandemics or other health crises. For additional information
regarding these risks, please see the Company’s Annual Information Form dated July 11, 2022, under the heading “Risk Factors”,
which is available at www.sedar plus.ca. These factors and assumptions are not intended to represent a complete list of the
factors and assumptions that could affect the Company. These factors and assumptions, however, should be considered carefully.
Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materiall y
from those disclosed in the forward-looking information or information, there may be other factors that cause actions, events or
results not to be as anticipated, estimated or intended. Also, many of such factors are beyond the control of the Company.
Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made
as of the date of this news release, and the Company assumes no obligation to publicly update or revise such forward- looking
information, except as required by applicable securities laws.