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

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 4, 2016) -

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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 and 31, September 23, 27, 29 and October 3, 2016, Lowell Copper has closed, subject to final approval of the TSX Venture Exchange, the second and final tranche (the "Final Tranche") of the private placement financing (the "Concurrent Financing") occurring in connection with the proposed business combination to create JDL Gold Corp. (the "Transaction").

The Final Tranche comprises 5,732,816 Subscription Receipts at a price of CDN$2.00 per Subscription Receipt for gross proceeds of CDN$11,465,632. In aggregate, the Concurrent Financing comprises 30,240,691 Subscription Receipts for gross proceeds of CDN$60,481,382.

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.

An aggregate cash commission of CDN$479,202 is, subject to final approval of the TSX Venture Exchange, payable in connection with the Concurrent Financing.

The Closing of the Transaction and the automatic conversion of Subscription Receipts thereafter is expected to occur on or about October 6, 2016. For full details of the Transaction, please see the Joint Circular of Lowell Copper, Gold Mountain and Anthem which was filed under each company's SEDAR profile on September 1, 2016.