Contango Stockholders Approve Dolly Varden Merger Proposals

MT Newswires Live03-18

Contango ORE (CTGO) said late Tuesday its stockholders approved all three proposals related to the proposed Dolly Varden (DVS) merger at a special meeting.

The first proposal covers the issuance of Contango shares to Dolly Varden shareholders under the arrangement. The second involves increasing authorized shares to 250 million from 45 million. The third relates to the company's 2026 omnibus incentive plan, according to the company.

Nearly 10 million shares, representing about 66% of outstanding stock as of Feb. 2, were voted at the meeting in person or by proxy.

The arrangement remains subject to approval by the British Columbia Supreme Court, with a hearing scheduled for March 23. The deal is expected to close shortly after, the company said.

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