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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) has announced that its stockholders have overwhelmingly approved the merger with McEwen Mining Inc. The special meeting saw more than 99.98% of the shares voted in favor of adopting the merger agreement, representing approximately 62.50% of Timberline's outstanding common stock. The final voting results will be reported on a Form 8-K to be filed with the SEC. The transaction is expected to close around August 19, 2024. This merger marks a significant development for Timberline, potentially creating a stronger entity in the mining sector.
Timberline Resources (OTCQB:TLRS)(TSXV:TBR) has announced the publication of its proxy statement for a special meeting of stockholders to approve the previously announced merger with McEwen Mining. The meeting is scheduled for August 16, 2024 at 9:00am Mountain Time in Denver, CO. The record date for determining eligible voters is set as July 8, 2024. Proxy materials will be distributed to stockholders around July 19, 2024. Subject to stockholder approval, Timberline anticipates the merger transaction to close in August 2024.
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