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District Metals Corp. (TSXV: DMX) (OTCQB: DMXCF) (FSE: DFPP) is an exploration and development company focused on the Viken and Tomtebo Properties in Sweden. The company recently received final approvals for new mineral licenses that cover a significant area in central and north-central Sweden. District is known for its Viken Energy Metals Deposit, a large Alum Shale deposit rich in uranium, vanadium, potash, molybdenum, nickel, copper, and zinc. The company's planned exploration work includes prospecting, mapping, and geochemical sampling to refine drill targets for further development.
District Metals Corp. (DMXCF) has received conditional approval to list its Swedish depository receipts (DMX SDRs) on the Nasdaq First North Growth Market. The listing is subject to standard conditions, including publishing a company description, meeting distribution requirements, and website updates. The SDRs will trade under symbol 'DMXSE' while maintaining the current ISIN.
The company is seeking exemptive relief from Canadian authorities to maintain its 'venture issuer' status despite the Nasdaq First North listing. District Metals believes this secondary listing will enhance Swedish investor access and strengthen its shareholder base. The company has been active in Sweden since June 2020, focusing on critical raw materials exploration, including the Viken Property, which contains what is reported as the world's second-largest uranium deposit based on historical estimates.
District Metals Corp (TSXV: DMX) (OTCQB: DMXCF) held its annual general and special meeting on December 12, 2024, in Vancouver. Shareholders, representing 9.10% of outstanding shares, voted in favor of all items including the election of directors Garrett Ainsworth, Joanna Cameron, Jonathan Challis, and Doug Ramshaw. The meeting also approved Davidson & Company LLP as auditor and adopted a new Omnibus Incentive Plan.
The Omnibus Plan is a 10% rolling plan allowing the Board to grant stock options, restricted share units, performance share units, and deferred share units. A total of 13,056,587 shares are issuable under this plan, which replaces the previous stock option plan.
District Metals Corp (TSXV: DMX) (OTCQB: DMXCF) announces plans for a secondary listing on the Nasdaq First North Growth Market in Sweden by end of 2024. The company holds the second-largest exploration land package in Sweden (144,718 hectares), including the Viken Energy Metals Deposit, one of the world's largest uranium-vanadium deposits. District's portfolio includes four uranium polymetallic properties and the Tomtebo Property in the Bergslagen Mining District. Boliden Mineral AB has committed CDN$10.0M for exploration over four years. The company's technical team includes experts with significant experience in uranium and base metals exploration, led by CEO Garrett Ainsworth, who previously contributed to major uranium deposit discoveries.
District Metals Corp (TSXV: DMX) (OTCQB: DMXCF) has announced its application for a secondary listing on the Nasdaq First North Growth Market in Sweden, aiming to complete the listing before the end of 2024. The company has seen increased interest from Swedish shareholders, attributed to potential changes in Sweden's uranium mining regulations, District's Swedish uranium project portfolio, and its partnership with Boliden Minerals AB. The listing is expected to improve trading liquidity and increase exposure to Swedish investors and analysts. The company's Viken Property reportedly hosts the world's second-largest uranium deposit based on historical estimates.
District Metals Corp. highlights recent Swedish Parliament meeting records regarding the uranium moratorium, which directly impacts their 100% owned Viken Energy Metals Deposit in Sweden. During an October 11, 2024 meeting, Environment Minister Romina Pourmokhtari emphasized the government's commitment to nuclear power as a low-emission technology. The minister criticized current legislation that requires treating uranium as waste, stating the government intends to change this approach. She described the current requirement to dispose of uranium while importing it from elsewhere as an unwise use of resources that is harmful to both environment and climate.
District Metals Corp. (TSXV: DMX) (OTCQB: DMXCF) has commenced core drilling at the Stollberg Property in Sweden. The program includes 2,200 m of drilling in 5-6 holes at the historic Gränsgruvan Mine. Key points:
1. Drilling will be followed by Boliden's down-hole electromagnetic survey.
2. The property shares similarities with the Garpenberg Mineralized Trend.
3. Focus on expanding known mineralization and potential new discoveries.
4. The Stollberg Mineralized Trend is a 5.0 km long belt of Zn-Pb-Ag sulphide deposits.
5. Historical production at Gränsgruvan Mine: 0.26 Mt at 4.8% Zn, 2.1% Pb, and 29 g/t Ag.
The program aims to leverage geological data and advanced techniques to increase the probability of making new polymetallic discoveries in the region.
District Metals Corp. (TSXV: DMX) (OTCQB: DMXCF) (FSE: DFPP) has announced plans for a potential secondary listing on the Nasdaq First North Growth Market in Sweden. The company is providing notice to shareholders who wish to transfer their common shares from the TSX Venture Exchange to Swedish depository receipts (SDRs).
Shareholders interested in converting their shares to SDRs are advised to contact DNB Markets for detailed instructions. CEO Garrett Ainsworth noted an increase in Swedish shareholders, possibly due to excitement surrounding District's Viken energy metal deposit and potential lifting of Sweden's uranium moratorium.
Benefits of a Nasdaq First North listing include: a proven growth platform, an active market with strong investor demand, and increased visibility through the Nasdaq brand. The move aims to allow Swedish investors easier participation in District's development.
District Metals Corp. (TSXV: DMX) (OTCQB: DMXCF) reports strong drill results from its Spring 2024 program at the Tomtebo Property in Sweden. Highlights include:
- TOM24-042: 29.25 m at 7.4% ZnEq or 2.9% CuEq (299.0 to 328.25 m)
- TOM24-041: 6.8 m at 3.3% ZnEq or 1.3% CuEq (191.0 to 197.8 m)
- TOM24-043: 3.95 m at 4.5% ZnEq (327.15 to 331.10 m)
The program, conducted in collaboration with Boliden Mineral AB, targeted the Steffenburgs zone of the historic Tomtebo Mine. Copper-rich polymetallic sulphide mineralization was encountered, with TOM24-042 intersecting significant mineralization that remains open at depth. The company plans further review with Boliden before planning the next phase of drilling at Tomtebo.
District Metals Corp. (DMXCF) has provided an update on its fieldwork activities and corporate developments. Key highlights include extensive fieldwork on Swedish mineral properties, the beginning of preparations for a secondary listing on the Nasdaq First North Growth Market in Sweden, and comments on the status of Sweden's uranium moratorium. Fieldwork on the Viken, Tåsjö, Malgomaj, and Österkälen Alum Shale properties has been aimed at locating outcrops, understanding structural settings, and validating geological maps. Results will guide future drilling. Drill results from the Tomtebo property are expected by late July 2024, with geological mapping and geophysical surveys ongoing. The potential lifting of Sweden's uranium moratorium could significantly impact District's project portfolio. A decision from the Swedish Parliament is anticipated in Fall 2024. District continues to leverage historical data while planning current and future exploration.
District Metals Corp. announced key appointments to enhance their operations and marketing. Hein Raat, a seasoned geologist, is now VP of Exploration. Raat has extensive experience in the Bergslagen Mining District, a focus area for District. Rita Bennett, with over 20 years in marketing and communications, joins as Strategic Advisor. Her past roles include VP Corporate Communications at Great Bear Resources. CEO Garrett Ainsworth expressed confidence in these appointments, highlighting their strategic importance. Additionally, District changed auditors from Smythe LLP to Davidson & Company LLP, with the board and audit committee approving this transition.
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