Dolly Varden applies for NYSE American listing
Dolly Varden Silver Corp. [DV-TSXV, DOLLF-OTCBB] has applied to list its issued and outstanding shares on the NYSE American LLC to complement its current listing on the TSX Venture Exchange.
In advance of listing on the NYSE American, Dolly Varden said it intends to file a Form 40-F registration statement with the United States Securities and Exchange Commission (SEC). Subject to approval by NYSE American and the satisfaction of all applicable listing and regulatory requirements, the company expects its common shares to commence trading on the NYSE American around late April. It said the shares would trade under the symbol DVS. A trading date will be announced once all regulatory requirements are satisfied. Trading on the OTCQX under the symbol DOLLF is expected to cease in connection with the NYSE American filing.
In connection with the proposed listing on NYSE American, the company intends to proceed with a consolidation of its common shares on the basis of one new postconsolidation share for every four preconsolidation common shares. The move will reduce the number of issued and outstanding common shares from 318.07 million to 79.5 million. Proportionate adjustments will be made to the company’s outstanding stock options, warrants and restricted share units.
Dolly Varden shares eased 4.0% or $0.04 to 96 centrs in early morning trading Thursday. The shares trade in a 52-week range of $1.46 and 86 cents.
Dolly Varden Silver is focused on the Kitsault Valley Project, which combines the Dolly Varden Project and the Homestake Ridge Project, located in B.C.’s Golden Triangle area. The project is only 25 kilometres by road from tide water. The 163 square kilometre project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge, along with the past producing Dolly Varden and Torbit silver mines.
It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejak.
The property is also considered to be an advanced exploration stage property with targets that are well understood. However, the company has said mine restarts will require the discovery of additional silver resources and the confirmation of historic resources that were known at the cessation of mining in 1959.
In a press release on February 3, 2025, Dolly Varden announced drill results from its 2024 program at the Homestake Silver deposit and exploration drilling at the Homestake Ridge property. It said the 20 holes reported in the press release successfully expanded and infilled multiple high-grade gold and silver rich zones within the Homestake Silver Deposit. Dolly Varden’s 2024 drill program consisted of 69 drill holes for a total of 31,726 metres, with 41 holes totalling 15,546 metres drilled in the Dolly Varden area and 28 holes covering 16,181 metres drilled in the Homestake Ridge area. Planning for the fully funded 2025 drill program is underway to build on the expanded silver and gold zones drilled in 2024.