Timberline Secures Funding Commitment, Enters Into Exclusivity Agreement
05 12월 2013 - 10:47PM
Marketwired
Timberline Secures Funding Commitment, Enters Into Exclusivity
Agreement
COEUR D'ALENE, IDAHO--(Marketwired - Dec 5, 2013) - Timberline
Resources Corporation (NYSEMKT:TLR)(TSX-VENTURE:TBR) ("Timberline"
or the "Company") announced today that the Company has entered into
a Confidentiality Agreement, including a No-Shop/Exclusivity clause
valid through February 28, 2014, with RockStar Resources, a private
corporation, ("RockStar") in order to explore mutually beneficial
transactions.
As consideration for the grant of exclusivity, RockStar has
agreed to purchase a total of US$750,000 of Timberline's common
stock for US$0.20 per share in three tranches; $250,000 in each of
December 2013, January 2014, and February 2014. As such, Timberline
will issue 3,750,000 shares of common stock for total consideration
of US$750,000 on or before February 28, 2014. Issuance of the
shares of common stock is subject to receipt of all necessary
regulatory approvals.
Timberline President and CEO Paul Dircksen commented, "We look
forward to working with an experienced, respected group of
technical professionals to explore ideas for advancing our
projects. The management at RockStar has a track record of success
in financing, developing and operating precious metals mines. The
financing commitment included with this agreement provides
Timberline with additional operating cash in a very difficult
market environment."
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. 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 that are developed into profitable
mines.
Timberline is listed on the NYSEMKT where it trades under the
symbol "TLR" and on the TSX Venture Exchange where it trades under
the symbol "TBR".
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 Company securities in any state or other
jurisdiction in which such offer, solicitation or sale is not
permitted. The securities to be offered and sold have not been and
will not registered under the United States Securities Act of 1933,
as amended, or under any state securities laws and may not be
offered or sold in the United States absent such registration or an
applicable exemption from such registration requirements.
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 future issuance of common stock to RockStar,
exploration of potentially mutually beneficial transactions with
RockStar, the timing and results of the Company's continued
exploration and drill program at South Eureka and Lookout Mountain,
the timing of assay results from such drilling program being
released, the Company's ability to expand and upgrade the South
Eureka resource, the timing or results of the Company's exploration
and development plans and programs at Butte Highlands, including
the timing of obtaining necessary permits, the development of and
production at the Company's Butte Highlands project and projects on
its South Eureka property, the potential life of the mine at the
Butte Highlands project, the targeted production date for the Butte
Highlands project, targeted date for production at South Eureka,
the potential for a heap-leach mine at South Eureka, and possible
growth of the Company and the Company's expected operations,
including potential development of an open pit extraction and heap
leach processing and operation at South Eureka. 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 the Company and RockStar not being
able to reach agreement on a mutually beneficial transaction, the
Company not timely receiving necessary regulatory approval for the
issuance of the shares of common stock, the timing and completion
of the drilling programs at Butte Highlands and South Eureka, risks
and uncertainties related to mineral estimates, risks related to
the inherently dangerous activity of mining, 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 Federal Securities 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.
Timberline Resources CorporationPaul DircksenCEO208.664.4859
Timberline Resources (QB) (USOTC:TLRS)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Timberline Resources (QB) (USOTC:TLRS)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024