Timberline Resources (OTCQB:TLRS)(TSX-V:TBR) has closed its merger with McEwen Mining Inc. The merger, approved by Timberline stockholders on August 16, 2024, resulted in Timberline becoming a wholly owned subsidiary of McEwen. As part of the deal, Timberline stockholders received 0.01 of a share of McEwen’s common stock for each share of Timberline’s common stock. The previously announced interim financing arrangement between the two companies has now become an intercompany arrangement. Cormark Securities Inc. served as Timberline’s financial advisor, while Davis Graham & Stubbs LLP acted as legal advisor for the transaction.
Timberline Resources (OTCQB:TLRS)(TSX-V:TBR) ha concluso la sua fusione con McEwen Mining Inc. La fusione, approvata dagli azionisti di Timberline il 16 agosto 2024, ha portato Timberline a diventare una filiale interamente posseduta da McEwen. Come parte dell’accordo, gli azionisti di Timberline hanno ricevuto 0,01 azione delle azioni ordinarie di McEwen per ogni azione delle azioni ordinarie di Timberline. L’accordo di finanziamento temporaneo precedentemente annunciato tra le due società è ora diventato un accordo interaziendale. Cormark Securities Inc. ha svolto il ruolo di consulente finanziario per Timberline, mentre Davis Graham & Stubbs LLP ha agito come consulente legale per la transazione.
Timberline Resources (OTCQB:TLRS)(TSX-V:TBR) ha cerrado su fusión con McEwen Mining Inc. La fusión, aprobada por los accionistas de Timberline el 16 de agosto de 2024, resultó en que Timberline se convirtiera en una filial de propiedad total de McEwen. Como parte del acuerdo, los accionistas de Timberline recibieron 0,01 acción de las acciones ordinarias de McEwen por cada acción de las acciones ordinarias de Timberline. El acuerdo de financiamiento temporal previamente anunciado entre las dos compañías se ha convertido ahora en un acuerdo entre empresas. Cormark Securities Inc. actuó como asesor financiero de Timberline, mientras que Davis Graham & Stubbs LLP fue el asesor legal para la transacción.
Timberline Resources (OTCQB:TLRS)(TSX-V:TBR)가 McEwen Mining Inc와의 합병을 완료했습니다. 이 합병은 2024년 8월 16일 Timberline 주주들에 의해 승인되었으며, Timberline은 McEwen의 완전 소유 자회사가 되었습니다. 거래의 일환으로, Timberline 주주들은 Timberline의 보통주 1주당 McEwen의 보통주 0.01주를 받았습니다. 이전에 발표된 두 회사 간의 임시 금융 계약은 이제 상호 회사 간의 약정으로 전환되었습니다. Cormark Securities Inc.는 Timberline의 재정 고문 역할을 했고, Davis Graham & Stubbs LLP는 거래의 법률 고문으로 활동했습니다.
Timberline Resources (OTCQB:TLRS)(TSX-V:TBR) a finalisé sa fusion avec McEwen Mining Inc. La fusion, approuvée par les actionnaires de Timberline le 16 août 2024, a entraîné la transformation de Timberline en filiale entièrement détenue de McEwen. Dans le cadre de l’accord, les actionnaires de Timberline ont reçu 0,01 action des actions ordinaires de McEwen pour chaque action des actions ordinaires de Timberline. L’arrangement de financement intérimaire précédemment annoncé entre les deux sociétés est désormais devenu un accord interentreprises. Cormark Securities Inc. a agi en tant que conseiller financier pour Timberline, tandis que Davis Graham & Stubbs LLP a été le conseiller juridique pour la transaction.
Timberline Resources (OTCQB:TLRS)(TSX-V:TBR) hat seine Fusion mit McEwen Mining Inc abgeschlossen. Die Fusion, die von den Timberline-Aktionären am 16. August 2024 genehmigt wurde, führte dazu, dass Timberline eine vollständig im Besitz von McEwen befindliche Tochtergesellschaft wurde. Im Rahmen des Deals erhielten die Timberline-Aktionäre 0,01 Anteil einer McEwen-Stammaktie für jede Timberline-Stammaktie. Die zuvor angekündigte Zwischenfinanzierungsvereinbarung zwischen den beiden Unternehmen ist nun zu einer internen Vereinbarung geworden. Cormark Securities Inc. diente als Finanzberater für Timberline, während Davis Graham & Stubbs LLP als Rechtsberater für die Transaktion fungierte.
Positive
- Merger with larger mining company McEwen Mining completed
- Potential for increased resources and operational synergies
- Access to McEwen’s financial backing and expertise
Negative
- Timberline stockholders receive only 0.01 McEwen shares per Timberline share
- Loss of independence as Timberline becomes a wholly owned subsidiary
- Potential for job losses or operational changes during integration
HAYDEN, ID / ACCESSWIRE / August 19, 2024 / Timberline Resources Corporation (OTCQB:TLRS)(TSX-V:TBR) (“Timberline” or the “Company“) is pleased to announce that it has closed the previously announced merger with McEwen Mining Inc. (“McEwen“). The closing follows the satisfaction of all conditions to the closing of the merger, including receipt of approval by Timberline stockholders on August 16, 2024.
At the effective time of the merger, the Company merged with and into a wholly owned subsidiary of McEwen, with Timberline surviving as a wholly owned subsidiary of McEwen. As previously announced, as a result of the merger, Timberline stockholders received 0.01 of a share of McEwen’s common stock for each share of Timberline’s common stock. Now that the acquisition has closed, the previously announced interim financing arrangement between Timberline and McEwen became an intercompany arrangement between McEwen and the surviving company.
Advisors and Counsel
Cormark Securities Inc. acted as financial advisor to Timberline, and Davis Graham & Stubbs LLP is acting as Timberline’s legal advisor.
About McEwen Mining
McEwen Mining Inc. is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, it owns approximately
On behalf of Timberline’s Board of Directors,
“Patrick Highsmith”
President and CEO Tel: 208-664-4859
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
SOURCE: Timberline Resources Corp.
View the original press release on accesswire.com
FAQ
What is the exchange ratio for Timberline Resources (TLRS) shares in the merger with McEwen Mining?
Timberline Resources (TLRS) stockholders received 0.01 of a share of McEwen Mining’s common stock for each share of Timberline’s common stock in the merger.
When did Timberline Resources (TLRS) stockholders approve the merger with McEwen Mining?
Timberline Resources (TLRS) stockholders approved the merger with McEwen Mining on August 16, 2024.
What happens to Timberline Resources (TLRS) after the merger with McEwen Mining?
After the merger, Timberline Resources (TLRS) survives as a wholly owned subsidiary of McEwen Mining.
Who acted as the financial advisor to Timberline Resources (TLRS) for the merger with McEwen Mining?
Cormark Securities Inc. acted as the financial advisor to Timberline Resources (TLRS) for the merger with McEwen Mining.