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Stock Market & Financial Investment News

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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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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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