District Mines Ltd. announced a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.05 per unit for the gross proceeds of CAD 500,000 on May 3, 2023. Each unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional share at a price of CAD 0.075 for a period of 12 months from the closing of the Offering.

All securities issued pursuant to the offering are subject to a hold period of four months and a day from the date of the closing. The transaction is subject to the approval of TSX Venture Exchange.