{"id":917211,"date":"2025-12-08T09:01:27","date_gmt":"2025-12-08T14:01:27","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/contango-ore-and-dolly-varden-silver-announce-merger-to-create-a-new-north-american-high-grade-mid-tier-silver-gold-producer-and-developer\/"},"modified":"2025-12-08T09:01:27","modified_gmt":"2025-12-08T14:01:27","slug":"contango-ore-and-dolly-varden-silver-announce-merger-to-create-a-new-north-american-high-grade-mid-tier-silver-gold-producer-and-developer","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/contango-ore-and-dolly-varden-silver-announce-merger-to-create-a-new-north-american-high-grade-mid-tier-silver-gold-producer-and-developer\/","title":{"rendered":"Contango ORE and Dolly Varden Silver Announce Merger to Create a New North American High-Grade, Mid-Tier Silver & Gold Producer and Developer"},"content":{"rendered":"
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\n FAIRBANKS<\/span>, Ala. and VANCOUVER, BC<\/span><\/span>, Dec. 8, 2025<\/span><\/span> \/PRNewswire\/ – Contango ORE, Inc. (“Contango” or the “Company”) (NYSE American: CTGO) and Dolly Varden Silver Corporation (“Dolly Varden”) (TSXV: DV) (NYSE American: DVS) (FSE: DVQ) are pleased to announce that they have entered into an arrangement agreement (the “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<\/i>\u00a0(British Columbia<\/span>) (the “Transaction”). The combination of Contango and Dolly Varden (the combined entity referred to as “MergeCo”) 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<\/span> as well as several high-grade silver and gold projects located in British Columbia<\/span> and Alaska<\/span> including the Kitsault Valley and Johnson Tract projects.<\/p>\n

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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<\/span> as CEO, Shawn Khunkhun<\/span> as President and Mike Clark<\/span> as Executive Vice President and CFO. The board of directors of MergeCo (the “MergeCo Board”) will include Clynt Nauman<\/span> as Chairman, Brad Juneau<\/span>, Darren Devine<\/span>, Mike Cinnamond<\/span>, Tim Clark<\/span>, Rick Van Nieuwenhuyse<\/span> and Shawn Khunkhun<\/span>.<\/p>\n

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\n Rick Van Nieuwenhuyse<\/span>, President, CEO & Director of Contango, commented<\/b>: “This merger is an exciting transaction for both Contango and Dolly Varden shareholders given the complementary and synergistic nature of our North American asset portfolios. With the Manh Choh Gold Mine providing significant cash flows in a strong gold and silver price environment, the combined company will have a source of non-dilutive funding to advance development of its high-grade Lucky Shot and Johnson Tract projects in Alaska<\/span> and Kitsault Valley project in British Columbia<\/span>. Kitsault Valley and Johnson Tract are particularly synergistic as both are high grade, have similar metallurgy, are located near tidewater and fit the Direct Shipping Ore (“DSO”) model. In addition, both have tremendous exploration upside. With Dolly\u00a0Varden’s cornerstone land position in the Golden Triangle, one of the most exciting and prospective mining districts in the world, we see great potential to expand resources and advance Kitsault Valley to production. The combined company will be well financed for growth that is expected to continue to deliver long-term value for its shareholders.”<\/p>\n

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\n Shawn Khunkhun<\/span>, President, CEO & Director of Dolly Varden, further commented:<\/b>\u00a0“We are very pleased to present this Transaction to the shareholders of Dolly Varden. The merger represents a step-change for the company, adding production and combining an exceptional portfolio of projects with the potential for high-grade precious-metal development. The combined company is poised to become a unique, multi-asset platform for silver and gold production, focused exclusively on the United States<\/span> and Canada<\/span>. Our respective boards are fully aligned on how to best realize this vision, sharing a commitment to aggressively expand our resource base, accelerate mine exploration and subsequent development across the portfolio and pursue growth-oriented acquisitions.”<\/p>\n

\n Transaction Highlights & Strategic Rationale<\/b>\n <\/p>\n