Timberline Announces Early Cash Receipt
14 Febbraio 2014 - 11:14PM
Marketwired
Timberline Announces Early Cash Receipt
COEUR D'ALENE, IDAHO--(Marketwired - Feb 14, 2014) - Timberline
Resources Corporation (NYSEMKT:TLR)(TSX-VENTURE:TBR) ("Timberline"
or the "Company") today announced that pursuant to the mutual
agreement of the Company and Timberline Drilling Inc. ("TDI"), the
Company has accepted an early, discounted cash payment of
US$150,000 in complete satisfaction of TDI's payment obligation to
the Company that was due in November 2014. That payment obligation
was pursuant to the previously announced terms of the Drilling
Services and Related Payment Obligations Agreement, dated November
9, 2011, by and between the Company and TDI (the "Agreement")
wherein the Company is to receive discounted drilling services, or,
if the services are not provided, annual cash payments of
US$220,000 ending in November 2016. The future obligations of both
parties under the Agreement remain intact and unchanged.
Timberline's President and CEO, Paul Dircksen, commented, "This
early payment provides the Company with some additional liquidity
as we evaluate our alternatives to complete a plan that will bring
us back into compliance with NYSEMKT guidelines."
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's leadership 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".
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.
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 Company's receipt of future drilling services
discounts or cash payments from Timberline Drilling, a plan to
bring the Company into compliance with NYSEMKT guidelines,
potential production at any of its projects, and potential future
financing transactions. 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 risks related to its exploration projects, risks related to
potential future transactions, risks related to the Company
continuing as a going concern, and other such factors, including
risk factors discussed in the Company's Annual Report on Form 10-K
for the year ended September 30, 2013. Except as required by
Federal Securities law, the Company does not undertake any
obligation to release publicly any revisions to any forward-looking
statements.
Timberline Resources CorporationPaul DircksenCEO208.664.4859
Grafico Azioni Timberline Resources (TSXV:TBR)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Timberline Resources (TSXV:TBR)
Storico
Da Lug 2023 a Lug 2024