TSXV:TBR - Post Discussion
Post by
Dormie18 on Aug 13, 2020 9:38am
Crescat Capital subscribes for US$1.8 m of $.11 unit deal
COEUR D'ALENE, ID / ACCESSWIRE / August 13, 2020 / Timberline Resources Corporation (OTCQB:TLRS)(TSXV:TBR) ("Timberline" or the "Company") has arranged a non-brokered private placement offering of up to US$3,700,000 of Units of the Company at a price of US$0.11 per Unit solely to persons or institutions who qualify as accredited investors (the "Offering") under Rule 506(b) of Regulation D promulgated by the SEC under the Securities Act of 1933, as amended (the "Securities Act"). The Offering is subject to approval by the TSX Venture Exchange.
Each Unit consists of one share of common stock of the Company and one common share purchase warrant (each a "Warrant"), with each Warrant exercisable to acquire an additional share of common stock of the Company at a price of US$0.20 per share until the warrant expiration date of August 15, 2023.
Crescat Capital has agreed to subscribe to US$1,800,000 of the offering. Crescat is a global macro asset management firm headquartered in Denver, CO. The firm recently launched a friendly activist precious metals mining fund. "We are excited about the exploration and development potential of Timberline's impressive collection of Nevada properties", said Crescat's founder and CIO, Kevin Smith.
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