Lowell Copper, Gold Mountain Mining and Anthem United Announce Closing of First Tranche of Concurrent Financing in Connection With Proposed Business Combination

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 27, 2016) -

NOT FOR DISTRIBUTION TO THE UNITED STATES WIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES

Lowell Copper Ltd. ("Lowell Copper") (TSX VENTURE:JDL), Gold Mountain Mining Corporation ("Gold Mountain") (TSX VENTURE:GUM) and Anthem United Inc. ("Anthem") (TSX VENTURE:AFY) (collectively, the "Parties") are pleased to announce that, further to their news releases dated August 15, August 31 and September 23, 2016, Lowell Copper has closed, subject to final approval of the TSX Venture Exchange, the first tranche (the "First Tranche") of the private placement financing (the "Concurrent Financing") occurring in connection with the proposed business combination to create JDL Gold Corp., a new diversified gold and copper production and development company (the "Transaction").

The First Tranche comprises 24,542,875 Subscription Receipts at a price of CDN$2.00 per Subscription Receipt for aggregate gross proceeds of CDN$49,085,750. Each Subscription Receipt entitles the holder to receive automatically upon closing of the Transaction, without any further action on the part of the holder and without payment of additional consideration, one post-consolidation common share (a "Common Share") and one post-consolidation share purchase warrant (a "Warrant") of JDL Gold Corp. Each Warrant will entitle the holder to acquire one Common Share at a price of CDN$3.00 for a period of five years following the date of the closing of the Transaction. The Shares and Warrants issued upon conversion of the Subscription Receipts may be traded by the holders through the facilities of the TSX Venture Exchange. In order to facilitate this, the Warrants are expected to be listed for public trading on the TSX Venture Exchange, subject to compliance with applicable TSX-V policies.

Lowell Copper expects to close the second and final tranche of the Concurrent Financing on or about October 4, 2016. The Closing of the Transaction and the automatic conversion of Subscription Receipts thereafter is subject to receipt of approval of the shareholders of each of Lowell Copper, Gold Mountain and Anthem at the shareholder meetings called for that purpose and to be held on September 28, 2016, all as more particularly described in the Joint Circular dated August 26, 2016 which has been filed on SEDAR and mailed to shareholders of all three companies. Closing of the Transaction is expected to occur on or about October 6, 2016.