Contango ORE, Inc. (NYSE American: CTGO) stockholders approved three merger-related proposals at a special meeting held March 17, according to a company statement.

The stockholders approved the arrangement proposal with 99.70% of votes in favor, authorizing the issuance of Contango shares to Dolly Varden shareholders. The share increase proposal, which raises authorized shares from 45 million to 250 million, received 84.68% approval. The 2026 Omnibus Incentive Plan passed with 89.99% support.

Approximately 9.98 million shares, representing 66% of outstanding common stock as of the February 2, 2025 record date, participated in the voting.

The arrangement requires approval from the British Columbia Supreme Court, with a hearing scheduled for March 23, 2026. Closing is expected to follow shortly after court approval, subject to other customary conditions.

Registered Dolly Varden shareholders who qualify as Eligible Holders have until March 24, 2026 to elect to receive Exchangeable Shares instead of Contango shares. Shareholders who do not make a valid election by the deadline will automatically receive Contango shares.

Contango operates gold exploration and development projects in Alaska, including a 30% interest in the Peak Gold joint venture with Kinross Gold Corporation subsidiary KG Mining (Alaska), Inc., which holds the remaining 70% and serves as operator.