District Reports Voting Results from its Annual General and Special Meeting of Shareholders
918-1030 West Georgia Street, Vancouver, BC, V6E 2Y3
Telephone: (604) 288 -4430
District Reports Voting Results from its
Annual General and Special Meeting of Shareholders
Vancouver, B.C. December 13, 2024
December 13, 2024 – District Metals Corp. (“District” or the “Company”) (TSX-V: DMX)
(OTCQB: DMXCF) (FRA: DFPP) is pleased to report the voting results for the Company's annua l
general and special meeting of shareholders (the “ Meeting”) held on December 12, 2024, in
Vancouver, British Columbia.
A total of 11,885,478 common shares were voted at the meeting, representing 9.10% of the
votes attached to all outstanding common shares. Shareholders voted in favour of all items of
business before the meeting, including the election of all director nominees as follows:
Director Votes For % For Votes Withheld % Withheld
Garrett Ainsworth 11,838,481 99.605% 46,997 0.395%
Joanna Cameron 11,610,466 97.686% 275,012 2.314%
Jonathan Challis 11,838,466 99.604% 47,012 0.396%
Doug Ramshaw 11,610,466 97.686% 275,012 2.314%
The shareholders also approved (1) the appointment of Davidson & Company LLP, Chartered
Professional Accountants as auditor of the Company for the ensuing year and authorized the
Board of Directors to fix the remuneration of the auditor; and (2) the adoption of an omnibus
incentive plan (the “Omnibus Plan”). Results of the shareholder votes on these items are set
forth below:
Resolution Outcome
of Vote
Votes For %
For
Votes
Against
Votes
Withheld
% Against
or Withheld
Appointment of
Auditors Carried 11,881,978 99.971% n/a 3,500 0.029%
Approval of
Omnibus
Incentive Plan
Carried 11,812,392 99.385% 73,086 n/a 0.615%
The Omnibus Plan is a ten percent (10%) rolling plan, pursuant to which the Board of Directors
may grant to eligible participants stock options, restricted share units, performance share units
and deferred share units to acquire common shares of the Company (each, a “Share”) . An
aggregate of 13,056,587 Shares are issuable under the Omnibus Plan, representing ten percent
(10%) of the issued and outstanding Shares as of December 12, 2024. The Omnibus Plan
replaces the previous ten percent (10%) rolling stock option plan. Please see the Circular for
further information on the Omnibus Plan.
For further information regarding the matters considered at the Meeting, readers are encoura ged
to review the Circular, a copy of which is available under the profile for the Company on SEDAR+
(www.sedarplus.ca) and available on the Company’s 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.
The data disclosed in this news release is related to historical results. District has not underta ken
any independent investigation of the sampling nor has it independently analyzed the results of
the historical exploration work in order to verify the results. District considers these historica l
results relevant as the Company is using this data as a guide to plan exploration programs. The
Company’s current and future exploration work includes verification of the historical data through
drilling.
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 p roperties.
About District Metals Corp.
District 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 va lue 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 tha t
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 a nd
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, respec tively. 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 management’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
Swedish polymetallic properties; and the Company’s interpretations and expectations about the
results on the Swedish p roperties.
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; 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 properties;
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 ability 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 gover nmental 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;
environmental 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; risks related to existing earn-in and joint venture
with Boliden; 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.sedarplus.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 identi fy factors that would
cause actual actions, events or results to differ materially 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.