Timberline Resources receives extension from NYSE Timberline Resources announced that the NYSE MKT has granted Timberline's request for a two week extension to submit a plan of compliance to the Exchange. Based in part on the company's progress to date on numerous alternatives, the previous deadline of February 20 has been extended to March 6. As reported on February 8, the company received notice from the Exchange 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. In order to maintain its listing on the Exchange, the company must submit a plan of compliance by March 6 addressing how it intends to regain compliance with Section 1003(a)(iv) of the Company Guide by March 31.
Waterton proposes to acquire Timberline Resources for 58c per share In a regulatory filing announcing its 9.9% stake in Timberline Resources, Waterton Precious Metals Fund II announced it has signed a letter agreement dated September 13, pursuant to which it has expressed interest in acquiring all of the issued and outstanding shares of Timberline's common stock for cash consideration of 58c per share. Timberline has granted Waterton Precious Metals Fund II an exclusivity period until 30 days following receipt of certain due diligence materials to complete its due diligence review and for the execution of definitive agreements, which may include lock-up agreements. The company has also granted Waterton deal protections including a break fee of 5% of the aggregate value of the transaction.