The Board of District Mines Ltd. (TSXV:DIG.H) announced the spin off of 1355381 B.C. Ltd. on September 16, 2022. Under the terms of transaction, District Mines one share will be exchanged for one share of spinco on basis of 1:1. Upon completion of arrangement, 1355381 B.C will cease to be wholly owned subsidiary of District mines. Upon the terms proceeding to November 14, 2022 have been compiled with the requisite of approval of shareholders of District Mines.

The transaction is subject to approval of shareholders of District Mines, regulatory and court. The arrangement was approved by Shareholders by a special resolution at annual meeting on December 14, 2022. Odyssey Trust Company acted as transfer agent to District Mines.