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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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December 19, 2014
08:31 EDTTLRTimberline Resources appoints Kiran Patankar as CEO
Timberline Resources announced that it has appointed Kiran Patankar as Timberline's new president and CEO. Patankar will succeed Paul Dircksen, a founding member of the company's management, who will semi-retire and has been appointed as the company's new vice-president of Business Development and Technical Services. The appointments of Patankar and Dircksen will be effective on January 1, 2015. Patankar has spent the past 7 years in the investment banking industry in Canada.
December 17, 2014
17:11 EDTTLRTimberline Resources begins drilling at Eureka property in Nevada
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