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Stock Market & Financial Investment News

News Breaks
March 13, 2014
08:38 EDTTLRTimberline Resources, Wolfpack Gold to merge
Timberline Resources announced that it has agreed in principle to merge with Wolfpack Gold creating a pure Nevada focused gold exploration company with a substantial portfolio of quality assets in a world class jurisdiction. The merger is expected to be completed by a plan of arrangement or other suitable mechanism, and Timberline and Wolfpack have agreed to an exclusivity period expiring April 22, during which time the parties will conduct their respective due diligence. Upon completion of satisfactory due diligence, the parties will conclude a definitive agreement. Under the terms of the letter of intent, 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. In the event the proposed transaction for any reason does not complete, Wolfpack will have the exclusive right, on the maturity date, to be paid the principal amount of the loan and interest in cash or elect to receive all or a portion thereof in shares of commons stock of Timberline. Repayment will also be secured by Timberline's interest in the Seven Troughs property located in Pershing County, Nevada. In the event Timberline decides for any reason to terminate discussions regarding the business combination prior to execution of the definitive agreement, Timberline will, in consideration for Wolfpack making the bridge loan, assign a 0.25% net smelter returns royalty in the Seven Troughs property to Wolfpack.
News For TLR From The Last 14 Days
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January 27, 2016
05:10 EDTTLRTimberline Resources announces vountary delisting from NYSE
Timberline Resources announces its intention to file a Form 25 with the SEC to voluntarily withdraw its common shares from listing on the NYSE MKT. Timberline expects to file the Form 25 on February 5, 2016 and expects the delisting to be effective approximately 10 days after the filing of the Form 25. The voluntary delisting is part of Timberline's on-going emphasis on cost control and cash conservation. It is intended to simplify the company's administrative requirements and to reduce listing fees and legal and administrative costs associated with the listing of the common shares on two different stock exchanges. In addition, Timberline considered the fact that the company's financial condition is not in compliance with the continued listing requirements of the NYSE MKT and that the company had received a warning from the Exchange regarding its low share price. Potential resolutions may have required the company to undertake certain corporate or other actions primarily to meet such requirements which may not be in the best interests of Timberline or its shareholders. Therefore, Timberline's board determined that the costs and compliance obligations of maintaining a listing of the company's common shares on the NYSE MKT outweigh the benefits to Timberline and its shareholders at this time and have voted to withdraw the company's shares from listing on the Exchange. Timberline expects that its common shares will continue to trade on the TSX Venture Exchange under symbol TBR, and that its shares will be qualified for trading on the OTCQB Venture Marketplace with trading on the OTCQB commencing on February 16, which is the day following the effective date of the delisting from the NYSE MKT. Timberline has complied with all applicable state and federal securities laws in connection with the delisting and is expected to continue to file reports with Canadian securities regulators on SEDAR and with the SEC on EDGAR following the voluntary delisting
January 26, 2016
08:07 EDTTLRTimberline Resources says Scott Davis to succeed Randal Hardy as CFO
Timberline Resources announced that Scott Davis will succeed Randal Hardy as the company's CFO following a brief transition period. Hardy has resigned from his office effective January 19, 2016, but will remain available to the company during a period to ensure a smooth transition. Davis is a CPA, and CGA and a partner of Cross Davis & Company LLP Certified General Accountants, a firm focused on providing accounting and management services for publicly-listed companies.
08:06 EDTTLRTimberline signs LOI to sell 50% interest in Butte Highlands JV to NJMC
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