District Announces Q3 2025 Results
District Metals Corp. (DMXCF) has released its Q3 2025 financial results for the period ended March 31, 2025. The company reported a cash position of $4.204 million, which includes $0.554 million advanced from Boliden Mineral AB that is restricted from general use. On May 21, 2025, District completed a non-brokered private placement, raising $6 million through the issuance of 22,222,221 common shares at $0.27 per share, with a finder's fee of $299,999.
The company recently completed an updated NI 43-101 mineral resource estimate for the Viken Energy Metals Deposit and is preparing for mineral exploration activities on its Swedish uranium polymetallic properties in the coming 4-6 months. The next earnings report is scheduled for September 25, 2025.
District Metals Corp. (DMXCF) ha pubblicato i risultati finanziari del terzo trimestre 2025 per il periodo terminato il 31 marzo 2025. La società ha riportato una posizione di cassa di 4,204 milioni di dollari, comprensiva di 0,554 milioni di dollari anticipati da Boliden Mineral AB, che sono vincolati e non disponibili per uso generale. Il 21 maggio 2025, District ha completato un collocamento privato senza intermediari, raccogliendo 6 milioni di dollari tramite l’emissione di 22.222.221 azioni ordinarie a 0,27 dollari per azione, con una commissione di intermediazione di 299.999 dollari.
La società ha recentemente completato una stima aggiornata delle risorse minerarie NI 43-101 per il giacimento Viken Energy Metals e si sta preparando per attività di esplorazione mineraria sulle sue proprietà polimetalliche di uranio in Svezia nei prossimi 4-6 mesi. Il prossimo rapporto sugli utili è previsto per il 25 settembre 2025.
District Metals Corp. (DMXCF) ha publicado sus resultados financieros del tercer trimestre de 2025 para el periodo finalizado el 31 de marzo de 2025. La compañía reportó una posición de efectivo de 4,204 millones de dólares, que incluye 0,554 millones de dólares adelantados por Boliden Mineral AB y que están restringidos para uso general. El 21 de mayo de 2025, District completó una colocación privada sin intermediarios, recaudando 6 millones de dólares mediante la emisión de 22.222.221 acciones ordinarias a 0,27 dólares por acción, con una comisión de búsqueda de 299.999 dólares.
La empresa completó recientemente una actualización de la estimación de recursos minerales NI 43-101 para el depósito Viken Energy Metals y se está preparando para actividades de exploración mineral en sus propiedades polimetálicas de uranio en Suecia durante los próximos 4-6 meses. El próximo informe de ganancias está programado para el 25 de septiembre de 2025.
District Metals Corp. (DMXCF)는 2025년 3월 31일 종료된 2025년 3분기 재무 결과를 발표했습니다. 회사는 420만 4천 달러의 현금 보유고를 보고했으며, 이 중 55만 4천 달러는 Boliden Mineral AB로부터 선급받아 일반 사용이 제한된 금액입니다. 2025년 5월 21일, District는 중개인 없는 사모 발행을 완료하여 주당 0.27달러에 22,222,221주의 보통주를 발행해 600만 달러를 조달했으며, 중개 수수료는 299,999달러였습니다.
회사는 최근 NI 43-101 기준에 따른 Viken Energy Metals 광상에 대한 최신 광물 자원 추정치를 완료했으며, 앞으로 4~6개월 내에 스웨덴 우라늄 다금속 광산 탐사 활동을 준비 중입니다. 다음 실적 보고서는 2025년 9월 25일 예정입니다.
District Metals Corp. (DMXCF) a publié ses résultats financiers du troisième trimestre 2025 pour la période terminée le 31 mars 2025. La société a déclaré une trésorerie de 4,204 millions de dollars, incluant 0,554 million de dollars avancés par Boliden Mineral AB, montant restreint à un usage général. Le 21 mai 2025, District a réalisé un placement privé sans intermédiaire, levant 6 millions de dollars par l’émission de 22 222 221 actions ordinaires à 0,27 dollar par action, avec une commission de recherche de 299 999 dollars.
La société a récemment finalisé une estimation actualisée des ressources minérales NI 43-101 pour le gisement Viken Energy Metals et se prépare à des activités d’exploration minérale sur ses propriétés polymétalliques à uranium en Suède dans les 4 à 6 prochains mois. Le prochain rapport sur les résultats est prévu pour le 25 septembre 2025.
District Metals Corp. (DMXCF) hat die Finanzergebnisse für das dritte Quartal 2025 für den Zeitraum bis zum 31. März 2025 veröffentlicht. Das Unternehmen meldete eine Barposition von 4,204 Millionen US-Dollar, darunter 0,554 Millionen US-Dollar, die von Boliden Mineral AB vorgeschossen wurden und für den allgemeinen Gebrauch eingeschränkt sind. Am 21. Mai 2025 schloss District eine nicht vermittelte Privatplatzierung ab und sammelte 6 Millionen US-Dollar durch die Ausgabe von 22.222.221 Stammaktien zu 0,27 US-Dollar pro Aktie, mit einer Vermittlungsgebühr von 299.999 US-Dollar.
Das Unternehmen hat kürzlich eine aktualisierte NI 43-101 Mineralressourcenschätzung für das Viken Energy Metals Vorkommen abgeschlossen und bereitet sich auf mineralexplorative Aktivitäten auf seinen schwedischen polymetallischen Uranvorkommen in den nächsten 4-6 Monaten vor. Der nächste Gewinnbericht ist für den 25. September 2025 geplant.
- Successful completion of $6 million private placement financing
- Strong cash position of $4.204 million as of March 31, 2025
- Completed updated NI 43-101 mineral resource estimate for Viken Energy Metals Deposit
- $0.554 million of cash is restricted and not available for general use
- Incurred $299,999 in finder's fees for the private placement
Vancouver, British Columbia--(Newsfile Corp. - May 29, 2025) - District Metals Corp. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQB: DMXCF) (FSE: DFPP); ("District" or the "Company") is pleased to report its results for the three and nine months ended March 31, 2025. All amounts are in Canadian dollars, unless otherwise noted.
Financial and Operational Update
The Company completed an updated mineral resource estimate pursuant to National Instrument 43-101 ("NI 43-101") on the Viken Energy Metals Deposit, announced on April 29, 2025.
Preparations are currently underway to conduct mineral exploration activities on District's Swedish uranium polymetallic properties over the next four to six months, and more details will be released as they become available.
Highlights
- The Company had
$4.20 4 million in cash and cash equivalents at March 31, 2025, including$0.55 4 million advanced from Boliden Mineral AB not available for general use. - On May 21, 2025 the Company closed a non-brokered private placement financing under the Listed Issuer Financing Exemption, whereby the Company raised
$6 million through an offering of 22,222,221 common shares at$0.27 per share. In connection with the financing, the Company paid a finder's fee of$299,999.
The Company's unaudited condensed interim consolidated financial statements for the three and nine months ended March 31, 2025 (the "Financial Statements") are available on SEDAR+ (www.sedarplus.ca) and the Company's website here.
Next Earnings Report Release
The Company plans to report its results for the year ended June 30, 2025 on September 25, 2025.
About District Metals Corp.
District Metals Corp. is led by industry professionals with a track record of success in the mining industry. The Company's mandate is to seek out, explore, and develop prospective mineral properties through a disciplined science-based approach to create shareholder value and benefit other stakeholders.
District is a polymetallic exploration and development company focused on the Viken and Tomtebo Properties in Sweden. The Viken Property covers
The advanced exploration stage Tomtebo Property is located in the Bergslagen Mining District of south-central Sweden and is situated between the historic Falun Mine and Boliden's Garpenberg Mine that are located 25 km to the northwest and southeast, respectively. Two historic polymetallic mines and numerous polymetallic showings are located on the Tomtebo Property along an approximate 17 km trend that exhibits similar geology, structure, alteration and VMS/SedEx style mineralization as other significant mines within the district.
For further information on the Tomtebo Property, please see the technical report entitled "NI 43-101 Update Technical Report on the Tomtebo Project, Bergslagen Region of Sweden" dated effective October 15, 2020 and amended and restated on February 26, 2021, which is available on SEDAR+ at www.sedarplus.ca.
On Behalf of the Board of Directors
"Garrett Ainsworth"
President and Chief Executive Officer
(604) 288-4430
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking Information"
This news release contains certain statements that may be considered "forward-looking information" with respect to the Company within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved" and any similar expressions. In addition, any statements that refer to expectations, predictions, indications, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events. Forward-looking information in this news release relating to the Company include, among other things, statements relating to the timing of reporting its results,; the Company's Swedish polymetallic properties; the Company's planned exploration activities, including its drill target strategy and next steps for the Swedish properties; and the Company's interpretations and expectations about the results on the Swedish properties.
These statements and other forward-looking information are based on opinions, assumptions and estimates made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate and reasonable in the circumstances, as of the date of this news release, including, without limitation, assumptions about the reliability of historical data and the accuracy of publicly reported information regarding past and historic mines in the Bergslagen district; and in respect of the Swedish properties; that the Swedish government will eventually lift or amend its moratorium on uranium exploration and mining in Sweden; the Company's ability to raise sufficient capital to fund planned exploration activities, maintain corporate capacity; and stability in financial and capital markets.
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date such statements are made, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks associated with the following: the reliability of historic data on District's properties; the Company's ability to raise sufficient capital to finance planned exploration; that the Swedish government maintains its moratorium on uranium exploration and mining in Sweden for the foreseeable future; the Company's limited operating history; the Company's negative operating cash flow and dependence on third-party financing; the uncertainty of additional funding; the uncertainties associated with early stage exploration activities including general economic, market and business conditions, the regulatory process, failure to obtain necessary permits and approvals, technical issues, potential delays, unexpected events and management's capacity to execute and implement its future plans; the Company's ability to identify any mineral resources and mineral reserves; the substantial expenditures required to establish mineral reserves through drilling and the estimation of mineral reserves or mineral resources; the uncertainty of estimates used to calculated mineralization figures; changes in governmental regulations; compliance with applicable laws and regulations; competition for future resource acquisitions and skilled industry personnel; reliance on key personnel; title matters; conflicts of interest; environmental laws and regulations and associated risks, including climate change legislation; land reclamation requirements; changes in government policies; volatility of the Company's share price; the unlikelihood that shareholders will receive dividends from the Company; potential future acquisitions and joint ventures; infrastructure risks; fluctuations in demand for, and prices of metals; fluctuations in foreign currency exchange rates; legal proceedings and the enforceability of judgments; going concern risk; risks related to the Company's information technology systems and cyber-security risks; and risk related to the outbreak of epidemics or pandemics or other health crises. For additional information regarding these risks, please see the Company's Annual Information Form dated July 11, 2022 for the fiscal year ended June 30, 2021, under the heading "Risk Factors", which is available at www.sedarplus.ca. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company. These factors and assumptions, however, should be considered carefully. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking information or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of such factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release, and the Company assumes no obligation to publicly update or revise such forward-looking information, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253779
FAQ
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