Dolly Varden Provides Update on Exchangeable Share Election Process

Executive Summary

• Dolly Varden Silver Corp. provides detailed instructions for DRS‑registered shareholders to submit their Letter of Transmittal and Election Form to receive exchangeable shares in the pending merger‑of‑equals with Contango ORE, Inc.
• The election deadline is 5:00 pm ET on March 24, 2026; otherwise shareholders will automatically receive voting common stock of Contango.
• The court‑approved plan of arrangement is slated for a final order hearing on March 23, 2026, with closing expected shortly thereafter.

Key Details

• Shareholder Action Required: Eligible DRS holders must email the completed Letter of Transmittal and Election Form (PDF, not password‑protected) to [email protected].
• Election Deadline: 5:00 pm Eastern Time, Tuesday, March 24, 2026.
• Default Allocation: If no form is received by the deadline, shareholders will receive voting common stock of Contango ORE, Inc. automatically.
• Court Approval: The British Columbia Supreme Court hearing for the final order is scheduled for March 23, 2026; the arrangement’s closing is expected shortly after that date.
• Form Availability: A copy of the Letter of Transmittal and Election Form is posted on SEDAR+ and in the Special Meeting area of Dolly Varden’s website.
• Merger Structure: The transaction is a merger‑of‑equals via a court‑approved plan of arrangement, resulting in exchangeable shares for Dolly Varden shareholders.

Notable Quotes

• “We remind all registered shareholders that your Letter of Transmittal and Election form must be provided to the depositary by 5:00 pm Eastern Time on Tuesday, March 24, 2026,” – Shawn Khunkhun, CEO & Director.