Timberline Resources Announces Pricing of Public Offering of Common Stock
05 9월 2013 - 9:31AM
Marketwired
Timberline Resources Corporation (NYSE MKT:TLR)(TSX VENTURE:TBR)
("Timberline" or the "Company"), today announced the pricing of an
underwritten public offering of 5,000,000 shares of common stock at
a price to the public of $0.20 per share,. The gross proceeds from
the offering are expected to be approximately $1,000,000, prior to
deducting the underwriting discount and estimated offering expenses
payable by Timberline. Timberline has granted the underwriter a
45-day option to purchase at the public offering price up to an
aggregate of 750,000 additional shares of common stock to cover
over-allotments, if any. The offering is expected to close on or
about September 10, 2013, subject to customary closing
conditions.
Timberline intends to use the net proceeds from the offering for
exploration of our Lookout Mountain Project in Nevada, exploration
and development of other existing or acquired mineral properties,
working capital requirements, acquisitions, or for other general
corporate purposes.
Aegis Capital Corp. is acting as the sole book-running manager
for the offering.
The offering is being made pursuant to a shelf registration
statement on Form S-3 that Timberline Resources Corporation has
filed with the Securities and Exchange Commission ("SEC") and which
is effective. A preliminary prospectus supplement containing
important information relating to these securities has been filed
with the SEC. The preliminary prospectus supplement is still
subject to completion or amendment. A final prospectus supplement
relating to the offering will be filed with the SEC. Copies of the
preliminary prospectus supplement and, when available, copies of
the final prospectus supplement and the accompanying base
prospectus relating to these securities may be obtained by
contacting Aegis Capital Corp., Prospectus Department, 810 Seventh
Avenue, 18th Floor, New York, NY, 10019, telephone: 212-813-1010 or
email prospectus@aegiscap.com. Electronic copies of the prospectus
supplement and accompanying prospectus will also be available on
the website of the SEC at www.sec.gov.
Closing of the Offering will be subject to certain conditions,
including receipt of all necessary regulatory approvals and the
approval of the TSX Venture Exchange and the NYSE MKT.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, these securities, nor will there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale is not permitted. The
securities being offered have not been approved or disapproved by
any regulatory authority, nor has any such authority passed upon
the accuracy or adequacy of the preliminary prospectus supplement,
the accompanying base prospectus or the registration statement.
About Timberline Resources
Timberline Resources Corporation is exploring and developing
advanced-stage gold properties in the western United States.
Timberline holds a 50-percent carried interest ownership stake in
the Butte Highlands Joint Venture in Montana where operating
permits from the Montana Department of Environmental Quality are
scheduled to be issued in 2013, with gold production targeted to
commence shortly thereafter. Timberline's exploration is primarily
focused on the major gold districts of Nevada, where it is
advancing its flagship Lookout Mountain Project toward a production
decision while exploring a pipeline of quality earlier-stage
projects at its South Eureka Property and elsewhere. Timberline
management has a proven track record of discovering economic
mineral deposits and developing them into profitable mines.
Timberline is listed on the NYSE MKT where it trades under the
symbol "TLR" and on the TSX Venture Exchange where it trades under
the symbol "TBR".
Forward-looking Statements
Statements contained herein that are not based upon current or
historical fact are forward-looking in nature and constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements reflect the Company's
expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties.
These statements include but are not limited to statements
regarding the intended terms of the offering, closing of the
offering and use of any proceeds from the offering. When used
herein, the words "anticipate," "believe," "estimate," "upcoming,"
"plan," "target", "intend" and "expect" and similar expressions, as
they relate to Timberline Resources Corporation, its subsidiaries,
or its management, are intended to identify such forward-looking
statements. These forward-looking statements are based on
information currently available to the Company and are subject to a
number of risks, uncertainties, and other factors that could cause
the Company's actual results, performance, prospects, and
opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements. Factors that could
cause or contribute to such differences include, but are not
limited to, risks related to delays in closing, the receipt of
regulatory approvals and changes in market conditions, and other
such factors, including risk factors discussed in the Company's
Annual Report on Form 10-K for the year ended September 30, 2012.
Except as required by law, the Company does not undertake any
obligation to release publicly any revisions to any forward-looking
statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Timberline Resources Corporation Paul Dircksen CEO
208.664.4859
Timberline Resources (QB) (USOTC:TLRS)
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Timberline Resources (QB) (USOTC:TLRS)
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