Dolly Varden Silver Corp (DVS) News & EventsDVSDolly Varden Silver Corp

Contango Silver & Gold Completes Merger with Dolly Varden Silver

Contango Silver & Gold (CTGO) and Dolly Varden Silver (DVS) are pleased to announce they have completed their previously announced merger, following receipt of all required shareholder and court approvals. An application has been submitted to the Toronto Stock Exchange to list the Contango Shares and it is expected that the Contango Shares will be listed shortly, subject to satisfaction of applicable listing requirements and approval of the Toronto Stock Exchange. With completion of the acquisition, the Dolly Varden common shares are expected to be delisted from the TSX Venture Exchange at the close of trading on March 27, and from the NYSE American on April 6. Dolly Varden will make an application to cease to be a reporting issuer in Canada shortly thereafter. Contango has applied to list Contango Shares on the Toronto Stock Exchange, subject to satisfaction of applicable listing requirements and approval of the Toronto Stock Exchange.

Contango Ore Receives Proxy Support for Merger with Dolly Varden

Contango Ore (CTGO) is pleased to announce that two leading independent proxy advisory firms, including Institutional Shareholder Services, have recommended that Contango stockholders vote "FOR" the arrangement to be considered at the company's upcoming special meeting of stockholders in connection with Contango's proposed plan of arrangement with Dolly Varden Silver (DVS). Under the Arrangement, Contango will acquire all of the issued and outstanding common shares of Dolly Varden. Each Dolly Varden common share will be exchanged for 0.1652 of a Contango common share, or, for eligible holders who validly elect, 0.1652 of an exchangeable share, in each case subject to the terms and conditions of the arrangement. No fractional shares will be issued.

Contango Ore and Dolly Varden Silver Enter Merger Agreement

Contango Ore (CTGO) and Dolly Varden Silver (DVS) are pleased to announce that they have entered into an arrangement agreement to combine Contango and Dolly Varden on a merger-of-equals basis pursuant to a statutory plan of arrangement under the Business Corporations Act. The combination of Contango and Dolly Varden would provide investors with a unique opportunity to participate in the upside of a well-funded North American asset portfolio consisting of the cash flowing high-grade Manh Choh gold mine in Alaska as well as several high-grade silver and gold projects located in British Columbia and Alaska including the Kitsault Valley and Johnson Tract projects. Upon completion of the Transaction, existing Contango and Dolly Varden shareholders will each own approximately 50% of the outstanding shares of MergeCo, on a fully diluted in-the-money basis. MergeCo is expected to be renamed Contango Silver & Gold Inc. and will be led by Rick Van Nieuwenhuyse as CEO, Shawn Khunkhun as President and Mike Clark as Executive Vice President and CFO. The board of directors of MergeCo will include Clynt Nauman as Chairman, Brad Juneau, Darren Devine, Mike Cinnamond, Tim Clark, Rick Van Nieuwenhuyse and Shawn Khunkhun. Subject to the satisfaction of such conditions, the Transaction is expected to close in late February or early March, 2026. The Arrangement Agreement includes customary deal protections, including reciprocal fiduciary-out provisions, non-solicitation covenants and the right to match any superior proposals. A reciprocal termination fee in the amount of $15M is payable by either party in certain circumstances as set out in the Arrangement Agreement.