Optimum Ventures Announces Securityholder Approval of Plan of Arrangement With Blackwolf Copper and Gold Ltd.

VANCOUVER, British Columbia, Sept. 01, 2023 (GLOBE NEWSWIRE) -- Optimum Ventures Ltd. (“Optimum” or the “Company”) (TSXV: OPV) is pleased to announce that Blackwolf Copper and Gold Ltd.'s ("Blackwolf") proposed acquisition of all of the outstanding securities of the Company by plan of arrangement (the "Arrangement") was overwhelmingly approved at the Company's annual general and special meeting of securityholders held on August 31, 2023 (the "Meeting").

At the Meeting, Optimum securityholders were asked to consider and approve a special resolution regarding the proposed Arrangement (the "Arrangement Resolution"). No dissents were received by the Company and the Arrangement Resolution was approved by 100% of the votes cast by Optimum securityholders at the Meeting.

Pursuant to the terms of the Arrangement, Blackwolf will acquire all of the issued and outstanding common shares of Optimum (“Optimum Shares”), and, in exchange, shareholders of Optimum will receive 0.65 of a common share of Blackwolf (“Blackwolf Shares”) for each Optimum Share held. For complete details of the Plan of Arrangement, interested persons are directed to Optimum’s Information Circular filed on SEDAR+ (www.sedarplus.ca) on August 4, 2023 by Optimum under its company profile.

Closing of the Arrangement remains subject to court approval as well as other customary closing conditions. Assuming the timely completion of these conditions, Optimum expects the Arrangement to close on or about September 12, 2023.

About Blackwolf

Blackwolf’s founding vision is to be an industry leader in transparency, inclusion and innovation. Guided by our Vision and through collaboration with local and Indigenous communities and stakeholders, Blackwolf builds shareholder value through our technical expertise in mineral exploration, engineering and permitting. Blackwolf holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project, located adjacent to tidewater in southeast Alaska as well as five Hyder Area gold-silver and VMS properties in southeast Alaska and northwest British Columbia in the Golden Triangle, including the high-priority wide gold-silver veins at the Cantoo Property. For more information on Blackwolf, please visit the their website at www.blackwolfcopperandgold.com.