District Mines Secures $400,000 in Loans for Working Capital

District Mines Ltd., a Canada-based company exploring for and developing petroleum and natural gas reserves in Western Canada, has announced two significant financial transactions aimed at bolstering its working capital.

On January 21, 2026, District Mines entered into a non-interest-bearing, unsecured promissory note with E Squared Capital Ltd. (E Squared). Under this agreement, E Squared provided a loan of $150,000 to District Mines. This transaction is described as an arm's length transaction, meaning it was conducted on terms that are fair and equitable, with no special advantages or disadvantages to either party. No finder’s fee, commission, or other compensation is payable in connection with the E Square Loan.

Additionally, on June 16, 2026, District Mines entered into a 10% bearing, unsecured promissory note with Dustin Kinch, a director of the company. Kinch provided a loan of $250,000 to District Mines. This loan is noted as a non-arm's length transaction, reflecting the director's involvement. No finder’s fee, commission, or other compensation is payable in connection with the Kinch Loan.

Both of the loans are being used by the company for general working capital. District Mines Ltd. is a Canada-based company that explores for and develops petroleum and natural gas reserves in Western Canada. The company's management remains committed to transparent financial practices and maintaining robust operational support to drive its business forward.

The transactions with E Squared and Dustin Kinch are part of District Mines' ongoing efforts to secure the necessary funds to continue its exploration and development activities in the petroleum and natural gas sector. These financial arrangements reflect the company's strategic approach to managing its working capital and ensuring the sustainability of its operations.

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