Aegis helps raise proceeds for exploration of Lookout Mountain Project
By Devika Patel
Knoxville, Tenn., Dec. 20 - Timberline Resources Corp. said it priced a $1 million public offering of stock with a $150,000 greenshoe. The deal was announced Wednesday.
The company will sell 5 million common shares at $0.20 apiece. The per-share purchase price is a 31.04% discount to the closing share price of $0.29 on Dec. 19.
Aegis Capital Corp. is the bookrunner.
Settlement is expected Dec. 26.
Proceeds will be used for exploration of the company's Lookout Mountain Project in Nevada, exploration and development of other mineral properties, working capital requirements, acquisitions or other general corporate purposes.
Timberline is a precious metals exploration company based in Coeur d'Alene, Idaho.
| Issuer: | Timberline Resources Corp.
|
| Issue: | Common stock
|
| Amount: | $1 million
|
| Greenshoe: | $150,000
|
| Shares: | 5 million
|
| Price: | $0.20
|
| Warrants: | No
|
| Bookrunner: | Aegis Capital Corp.
|
| Announcement date: | Dec. 19
|
| Pricing date: | Dec. 20
|
| Settlement date: | Dec. 26
|
| Stock symbol: | NYSE: TLR
|
| Stock price: | $0.29 at close Dec. 19
|
| Market capitalization: | $12.21 million
|
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