30 Mar 2017capital raising announcement● Neutral
Timberline raised the target size of its ongoing private placement to $2 million - continuing to scale up an already-extended offering.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Mar 2017capital raising announcement● Neutral
Timberline closed the second tranche of the $0.25-unit private placement, raising about $1.05 million more and pushing the offering's target up to $1.75 million.
29 Mar 2017securities registration● Neutral
Timberline Resources Corp amended a filing by which it filed notice of an exempt private placement.
24 Mar 2017capital raising announcement● Neutral
Timberline both increased the size of and further extended its ongoing private placement - demand or need for capital was apparently running ahead of the original offering size.
28 Feb 2017securities registration● Neutral
Timberline Resources Corp filed notice of an exempt private placement.
24 Feb 2017capital raising announcement● Neutral
Timberline extended the deadline for its ongoing private placement financing - a routine extension with no new terms disclosed.
21 Feb 2017capital raising announcement● Neutral
Timberline closed the first tranche of a new private placement (units at $0.25, warrants at $0.40 through January 2020), raising about $486,000 toward a targeted $1.25 million.
17 Jan 2017capital raising announcement● Neutral
Timberline announced a new private placement offering - a further round of dilutive financing to keep funding Talapoosa and general operations.
17 Nov 2016material agreement● NeutralMajor
On October 19, 2016, Timberline amended its March 12, 2015 option to buy 100% of the Talapoosa project from Gunpoint and American Gold Capital. The option deadline was extended from September 12, 2017 to March 31, 2019, and the exercise price changed from US$10M cash to a tiered cash-and-shares price (US$11M plus 3.5M shares if closed by March 31, 2017, falling to US$8M plus 1.5M shares after March 31, 2018). To keep the option alive Timberline must pay US$1M plus 1M shares by March 31, 2017, US$2M plus 1M shares by March 31, 2018, and spend US$7.5M cumulatively by December 31, 2018. The amendment also removes Timberline's right to buy back a 1% royalty for US$3M and reworks a US$10M contingent payment, triggered if gold averages US$1,600/oz or more for 90 trading days, to be paid in two US$5M instalments (each up to half in shares). This fills the gap in the context for the November 2016 agreement.
26 Oct 2016farm in farm out agreement● Neutral
Timberline extended its option agreement to acquire the Talapoosa gold project from Gunpoint Exploration, keeping the option alive as it continued working toward development decisions on its flagship asset.
16 Sept 2016director interest notice● Neutral
Randal Lavon Hardy became a Timberline Resources Corp Chief Financial Officer and company insider (initial ownership filing).
19 July 2016director interest notice● Neutral
Timberline Resources Corp director Guilio Bonifacio received a stock option grant for 600,000 shares.
19 July 2016director interest notice● Neutral
Guilio Bonifacio became a Timberline Resources Corp director and company insider (initial ownership filing).
12 July 2016director interest notice● Neutral
Paul H Zink became a Timberline Resources Corp director and company insider (initial ownership filing).
12 July 2016director interest notice● Neutral
Timberline Resources Corp director Paul H Zink received a stock option grant for 200,000 shares.
8 July 2016director interest notice● Neutral
Timberline Resources Corp director Robert Martinez received a stock option grant for 200,000 shares.
8 July 2016director interest notice● Neutral
Timberline Resources Corp director Leigh Freeman received a stock option grant for 250,000 shares.
8 July 2016director interest notice● Neutral
Timberline Resources Corp President and CEO Steven A. Osterberg received a stock option grant for 250,000 shares.
8 July 2016director interest notice● Neutral
Timberline Resources Corp director Paul Dircksen received a stock option grant for 200,000 shares.
7 July 2016substantial holder notice● Neutral
Waterton Precious Metals Fund II Cayman, LP, Waterton Global Resource Management, LP, Waterton Global Resource Management Cayman Corp, Waterton Global Resource Management, Inc reported a Timberline Resources Corp shareholding of 941,155 shares (3.90% of votes) in a periodic institutional filing.
1 July 2016director interest notice● Neutral
Timberline Resources Corp director Leigh Freeman bought 130,132 shares on the open market.
1 July 2016capital raising announcement▲ Good
Timberline closed the third and final tranche of its private placement, completing the full $1.5 million raise across 10 million units; CEO Osterberg and Chairman Leigh Freeman participated as related parties under TSX Venture Exchange rules, confirming Timberline's stock was now also listed on the TSXV following the NYSE MKT delisting.
What it means for a shareholder
10.0m new shares at about $0.150 to raise about $1.5m. That's 29% dilution: every existing holder's slice gets 29% smaller. If you held $1,000 of shares (6,667 at the issue price), your slice goes from 0.0278% to 0.0196% of the company. To keep it you'd need 2,777 more shares - about $417 at the issue price.
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24 June 2016director interest notice● Neutral
Timberline Resources Corp President and CEO Steven A. Osterberg bought 533,334 shares on the open market.
14 June 2016capital raising announcement● Neutral
Timberline closed the second tranche of its $0.15-unit private placement, raising about $561,000 more, moving closer to the $1.5 million target.
8 June 2016substantial holder notice● Neutral
Waterton Precious Metals Fund II Cayman, LP, Waterton Global Resource Management, LP, Waterton Global Resource Management Cayman Corp, Waterton Global Resource Management, Inc reported a Timberline Resources Corp shareholding of 1,183,902 shares (6.89% of votes) in a periodic institutional filing.
7 June 2016securities registration● Neutral
Timberline Resources Corp filed notice of an exempt private placement.
2 June 2016capital raising announcement● Neutral
Timberline closed the first tranche of a new private placement (units at $0.15, warrants at $0.25 through May 2019), raising about $477,000 toward a targeted $1.5 million total - the OTC-era financing pattern replacing the underwritten public offerings it used while NYSE-listed.
27 May 2016capital raising announcement▼ Bad
With cash tight right after delisting, Timberline borrowed $57,200 from three insiders - CEO Steven Osterberg, director Robert Martinez and advisor Randal Hardy - via short-term unsecured notes at a 9.1% original-issue discount, approved by disinterested directors.
11 May 2016capital raising announcement● Neutral
Timberline announced a new private placement of common stock, its first capital raise since voluntarily delisting from NYSE MKT and now trading over-the-counter, under new CEO Steven Osterberg.
5 Feb 2016listing compliance notice▼ BadMajor
Timberline Resources Corp's securities were notified for removal from listing and registration on its exchange.