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Stock Market & Financial Investment News

News Breaks
February 9, 2014
15:13 EDTTLRTimberline Resources receives NYSE notice
Timberline Resources announced that it has received notice from the NYSE that the company is not in compliance with one of the Exchange's continued listing standards as set forth in Part 10 of the NYSE MKT company guide. Specifically, the company is not in compliance with Section 1003(a)(iv) of that company guide in that it has sustained losses which are substantial in relation to its overall operations or its existing financial resources, or its financial condition has become impaired such that it appears questionable, in the opinion of the Exchange, as to whether the company will be able to continue operations and/or meet its obligations as they mature.In order to maintain its listing on the Exchange, the Exchange has requested that the company submit a plan of compliance by February 20 addressing how it intends to regain compliance with Section 1003(a)(iv) of the company guide by March 31. Timberline's management is pursuing a number of potential transactions to address the company's financial requirements. The company intends to submit a Plan in the prescribed form to the Exchange prior to the due date that management anticipates will address the concerns of the Exchange and regain compliance with the Exchange's continued listing standards. If the Plan is not accepted by the Exchange, then the company will be subject to the Exchange's delisting procedures. The company recognizes the need to engage in financing transactions to continue as a going concern given its current cash balance and anticipated, upcoming operating expenses. Such financing activities may include equity financings, asset sales, strategic alliances, or other arrangements, in order to execute its operating plans and exploration programs. The company may not be able to obtain necessary financing in sufficient amounts to meet its ongoing obligations or on acceptable terms, if at all, however, company management believes that through its best efforts it will complete a Plan and one or more transactions that will bring the company into compliance with NYSE MKT guidelines.
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April 17, 2014
08:09 EDTTLRTimberline Resources amends agreement to acquire Wolfpack Gold assets
Timberline Resources has restructured its proposed acquisition of Wolfpack Gold and has executed an Amended Letter of Intent reflecting the revised terms. Timberline intends to acquire all of the outstanding shares of a Wolfpack subsidiary which will hold all of Wolfpack's current assets other than its uranium holdings in exchange for shares of common stock in the capital of Timberline at a ratio equal to 0.75 shares of Timberline for each outstanding share of Wolfpack. Under the amended terms of the LOI, Timberline will retain ownership of its 50% carried-to-production interest in the Butte Highlands Gold Project in Montana. As a result of the acquisition, Timberline will acquire a number of gold projects in Nevada and approximately $4.7M in cash, inclusive of the loan. Timberline and Wolfpack have agreed to extend the exclusivity period until May 5. Additionally, the LOI requires a break fee in the amount of $500K be paid by a party electing to terminate the definitive agreement to accept a third party superior proposal. Under the terms of the LOI, Wolfpack has agreed to provide Timberline with a bridge loan of up to $1M to fund the working capital needs of Timberline during the interim period prior to the completion of the proposed transaction.

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