On February 1, 2024, District Metals Corp., closed the transaction. The securities issued in connection with the Offering, including any underlying securities, are subject to a hold period of four months and one day ending on June 2, 2024. As a part of the transaction, the company paid a cash commission of CAD 270,600 and issued to the underwriters an aggregate of 1,230,000 non-transferable compensation options. Each compensation option shall entitle the holder thereof to acquire one additional common share at a price of CAD 0.22 for a period of 36 months from the closing date. The directors and certain officers of the company, and a greater than 10% shareholder have participated in the Offering. Garrett Ainsworth has subscribed for 30,000 Units, Doug Ramshaw has subscribed for 30,000 Units, Joanna Cameron has subscribed indirectly for 30,000 Units and Jonathan Challis has subscribed for 30,000 Units and the Insider subscribed for 3,200,000 Units in the offering. The company raised CAD 1,500,400 ($1,119,367) pursuant to Regulation D in the transaction from single investor.

The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement. The transaction included participation from 9 placees and 5 existing insiders for 3,320,000 units.