Sherpa II Holdings Corp. announced that it has entered into a definitive purchase agreement dated August 17, 2020 with District Metals Corp., which sets out the terms and conditions pursuant to which the Company will acquire an 80% undivided interest in eight mineral claims and a 100% undivided interest in all technical data relating to the Bakar Claims the Transaction. Upon completion of the Transaction, it is expected that one independent director will be added to the Board such that it consists of four directors, of which one will be independent. In addition, upon completion of the Transaction, it is expected that Robert Scott appointed as the Chief Financial Officer of the Company. Thomas O'Neill currently holding such position in addition to Chief Executive Officer. Mr. Scott, CPA, CA, CFA brings more than 20 years of professional experience in accounting, corporate finance, and merchant and commercial banking and has served on the management teams and boards of a number of Canadian publicly traded companies. He is a founder and president of Corex Management Inc.