Why Contango Ore (CTGO) Is Expanding Beyond Alaska With Its Dolly Varden Deal

Contangro Ore Inc. (NYSE:CTGO) is one of the worst-performing commodity stocks so far in 2026.

On March 26, 2026, Contango said it completed its merger with Dolly Varden Silver under a statutory plan of arrangement, with all issued and outstanding Dolly Varden shares acquired by 1566004 B.C. Ltd., an indirect wholly owned subsidiary of Contango. Under the deal terms, each Dolly Varden share was exchanged for 0.1652 of a Contango voting common share or, for eligible holders who validly elected, 0.1652 of an exchangeable share of Acquireco.

Contango said the transaction brought together its cash-flowing Manh Choh Gold Mine and advanced high-grade exploration assets in Alaska with Dolly Varden’s Kitsault Valley silver-gold project in British Columbia’s Golden Triangle. The company said it issued 13,686,278 Contango shares and replacement options to purchase 417,048 Contango shares, while Acquireco issued 1,597,301 exchangeable shares. After the merger, there were 30,507,599 outstanding Contango shares, excluding the exchangeable shares.

The release also said Dolly Varden shares were expected to be delisted from the TSX Venture Exchange at the close of trading on March 27, 2026, and from the NYSE American on April 6, 2026, after which Dolly Varden planned to apply to cease being a reporting issuer in Canada.

Contango Ore, Inc. (NYSE:CTGO) is a precious metals company engaged in the exploration for and development and production of gold and associated minerals in Alaska and in the Golden Triangle in British Columbia.

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