The TSX Venture Exchange has accepted for filing an agreement dated Dec. 22, 2023, among District Metals Corp., a wholly owned subsidiary of DMX (the purchaser) and an arm's-length party (the vendor), whereby the purchaser will acquire 100 per cent of the right, title and interest in and to certain mineral licences located in Sweden.

By way of consideration, the purchaser will make cash payments totalling up to $100,000 and District Metals will issue up to 4.5 million shares.

The vendor will retain a 2.0-per-cent net smelter return (NSR) royalty on the licences. The purchaser may buy back the entirety of the royalty for $8-million, with a 1.0-per-cent royalty purchasable for $2-million.

For further details, please refer to District Metals' news release dated Jan. 3, 2024.