Lowell Copper Ltd. (TSXV:JDL) signed a definitive agreement to acquire Gold Mountain Mining Corporation (TSXV:GUM) for CAD 22.1 million in stock on August 14, 2016. As per the arrangement agreement, shareholders of Gold Mountain will receive 1.032 pre-consolidated common shares of Lowell Copper for each common share of Gold Mountain held. Holders of each outstanding Gold Mountain convertible security will be entitled to acquire that number of common shares of Lowell Copper based on the Gold Mountain exchange ratio. Upon completion of the transaction, Gold Mountain's shares will be de-listed from the TSX Venture Exchange and Gold Mountain will operate as a wholly owned subsidiary of Lowell. In the related transaction, Lowell Copper Ltd. (TSXV:JDL) signed a definitive agreement to acquire Anthem United Inc. for CAD 20.9 million on August 1, 2016. The shareholders of Anthem United will receive 0.774 of pre-consolidated common share of Lowell Copper for each common share of Anthem.

Upon completion of the transaction, Greg Smith, currently Chief Executive Officer of Anthem, will assume that role for the combined company. J. David Lowell, Greg Smith, Catherine McLeod-Seltzer and Marcel de Groot, will remain directors of the new Company, and will be joined by incoming director Jim O'Rourke. The transaction is subject to the completion of confirmatory due diligence, TSX-V and other regulatory and court approvals or orders, raising minimum gross proceeds of CAD 10 million from the concurrent financing, 66 2/3 shareholder approval required for Gold Mountain, 50.1% shareholder approval required for Lowell Copper, grant of dissent rights to the holders of Gold Mountain common shares. The transaction has been unanimously approved by the Board of Lowell and Gold Mountain. The shareholders of each of Lowell Copper Ltd., Gold Mountain Mining Corp. and Anthem United Inc. have unanimously approved the transaction and also approved the change of name of Lowell Copper to JDL Gold Corp. on September 28, 2016. Supreme court of British Columbia approved the deal on October 5, 2016.

The transaction is expected to be completed in late September 2016. Ross Glanville & Associates Ltd. acted as fairness opinion provider to Lowell Copper and its board of directors. Evans & Evans, Inc. acted as fairness opinion provider to Gold Mountain and its board of directors.

Lowell Copper Ltd. (TSXV:JDL) completed the acquisition of Gold Mountain Mining Corporation (TSXV:GUM) on October 6, 2016. Lowell Copper changed its name to “JDL Gold Corp.”