Timberline Resources Announces Closing of Public Offering of Common Stock
11 9월 2013 - 12:40AM
Marketwired
Timberline Resources Corporation (NYSE MKT:TLR)(TSX VENTURE:TBR)
("Timberline" or the "Company"), announced today that it has closed
the previously announced underwritten public offering of its common
stock. The Company offered 5,000,000 shares of its common stock at
$0.20 per share to the public. Timberline received gross proceeds
from the offering, before deducting the underwriting discount and
estimated offering expenses payable by Timberline, of $1
million.
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.
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.
A shelf registration statement on Form S-3 and accompanying base
prospectus relating to the shares was filed with the Securities and
Exchange Commission ("SEC") and is effective. A final prospectus
supplement containing important information relating to these
securities was filed with the SEC. Copies of the final prospectus
supplement relating to the offering may be obtained from the
offices of 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 are also available on the
website of the SEC at http://www.sec.gov.
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 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 changes in the Company's business
resulting in changes in the use of proceeds, 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 Corp. Paul Dircksen CEO
208.664.4859
Timberline Resources (QB) (USOTC:TLRS)
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Timberline Resources (QB) (USOTC:TLRS)
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