Dolly Varden Silver Announces Filing of Special Meeting Circular and Receipt of Interim Order in Respect of Previously Announced Arrangement with Contango ORE

Executive Summary

• Dolly Varden Silver Corp. announced a special shareholders’ meeting on March 17, 2026 to vote on the Arrangement Resolution approving its court‑approved plan of arrangement with Contango ORE, Inc., under which Contango will acquire 100% of Dolly Varden’s common shares.
• Shareholders will receive 0.1652 Contango voting common shares per Dolly Varden share (or an exchangeable Canadian subsidiary share for eligible Canadian shareholders).
• The board unanimously recommends a “FOR” vote, citing the absence of financing conditions, expected regulatory and court approvals, continuity of key management, and potential tax‑deferred rollover benefits.

Key Details

• Circular Filing: Management information circular dated February 11, 2026 filed on SEDAR+.
• Interim Order: Supreme Court of British Columbia issued an interim order on February 11, 2026 authorizing the meeting, dissent rights, and related procedures.
• Meeting Information:
• Date & Time: March 17, 2026 at 10:00 a.m. PT (Vancouver).
• Location: Stikeman Elliott LLP, Suite 1700 – 666 Burrard Street, Vancouver, BC.
• Proxy deadline: March 13, 2026 at 10:00 a.m. PT.
• Arrangement Terms:
• Contango will acquire all issued and outstanding Dolly Varden common shares.
• Exchange ratio: 0.1652 Contango voting common share per Dolly Varden share (or 0.1652 exchangeable share in a Canadian subsidiary for eligible shareholders).
• Arrangement requires approval of at least 66 ⅔ % of votes cast at the meeting and subsequent court and regulatory approvals.
• Board Recommendation: Unanimous “FOR” vote, citing: superior proposal flexibility, participation in combined company value, equitable treatment, high likelihood of required approvals, no financing condition, continuity of certain directors/executives, voting support agreements covering ~22 % of shares, and tax‑deferred rollover option.
• Voting Support Agreements: Executed with all directors/officers and certain large shareholders controlling approximately 22 % of outstanding shares, committing to vote in favour.
• Shareholder Assistance: Proxy solicitation agent Laurel Hill Advisory Group available via toll‑free phone (1‑877‑452‑7184), collect call (416‑304‑0211), text “INFO”, or email [email protected].

Notable Quotes

• “The board unanimously recommends that shareholders vote FOR the Arrangement Resolution… The absence of a financing condition and an expected path to completion provide confidence in the transaction’s success.” – Shawn Khunkhun, CEO & Director, Dolly Varden Silver Corp.