Mr. Paul Dircksen reports
TIMBERLINE RESOURCES ANNOUNCES PRICING OF PUBLIC OFFERING OF COMMON STOCK
Timberline Resources Corp. has priced its previously announced underwritten public offering of its common stock. The company is offering five million shares of its common stock at 20 cents per share to the public. The gross proceeds from the offering are expected to be approximately $1-million, prior to deducting the underwriting discount and estimated offering expenses payable by Timberline. 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 overallotments, if any. The offering is expected to settle and close on or about Dec. 26, 2012, subject to customary closing conditions.
Timberline intends to use the net proceeds from the offering for exploration of its Lookout Mountain project in Nevada, exploration and development of other existing or acquired mineral properties, working capital requirements, acquisitions, or other general corporate purposes.
Aegis Capital Corp. is acting as the sole book-running manager for the offering.
The offering is being made pursuant to a shelf registration statement on Form S-3 that Timberline has filed with the Securities and Exchange Commission and which is effective. A preliminary prospectus supplement containing important information relating to these securities has been filed with the SEC. The preliminary prospectus supplement is still subject to completion or amendment. A final prospectus supplement relating to the offering will be filed with the SEC. Copies of the preliminary prospectus supplement and, when available, copies of the final prospectus supplement and the accompanying base prospectus relating to these securities may be obtained by contacting Aegis Capital, prospectus department, 810 7th Ave., 18th floor, New York, N.Y., 10019, telephone: 212-813-1010 or e-mail: firstname.lastname@example.org. Electronic copies of the prospectus supplement and accompanying prospectus will also be available on the website of the SEC.
Closing of the offering will be subject to certain conditions, including receipt of all necessary regulatory approvals and the approval of the TSX Venture Exchange and the NYSE MKT.
We seek Safe Harbor.