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Stock Market & Financial Investment News

News Breaks
May 23, 2014
08:07 EDTTLRTimberline Resources receives notice from NYSE
Timberline Resources announced that it has received notice from the NYSE that due to the Exchange's determination that the company's securities have been selling for a low price per share for a substantial period of time, pursuant to Section 1003(f)(v) of the NYSE MKT Company Guide, the company's continued listing is predicated on it effecting a reverse stock split of its common stock within a reasonable period of time, which the Exchange has determined to be no later than November 19. The Exchange did acknowledge in its notification letter that the company has disclosed its intention to seek shareholder approval for a reverse stock split of its common stock in connection with the company's proposed acquisition of Wolfpack Gold. The acquisition of Wolfpack U.S. is expected to close early in July. The reverse stock split contemplated as part of the arrangement to acquire Wolfpack U.S. is expected to alleviate the concerns of the Exchange within a reasonable period of time.
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