District Announces Closing of Acquisition of Tomtebo Project
June 30, 2020 – District Metals Corp. (TSX-V: DMX; "District" or the “Company”) is pleased to announce that further to its news release of February 28, 2020 and May 8, 2020, it has completed its acquisition of a 100% ownership of the Tomtebo and Trollberget properties (together, the "Properties") from Viad Royalties AB (the "Seller"), a wholly-owned subsidiary of EMX Royalty Corp. (TSX-V:EMX) ("EMX"). The acquisition of the Properties by the Company is hereinafter referred to as the "Transaction".
Garrett Ainsworth, President & CEO of District, commented: “It has been a pleasure working with EMX, from the due diligence phase through to the closing of the Tomtebo and Trollberget transaction. We are pleased to have EMX as a large shareholder, with a 9.9% ownership in the Company. District is well underway with our exploration plans for Tomtebo, located in the prolific Bergslagen Mining District of south-central Sweden, with a strong partner that has been operating in Scandinavia since 2012.”
- Published: 30 June 2020
- Written by Editor