Timberline Resources Announces Closing of Merger with McEwen Mining

HAYDEN, ID / ACCESSWIRE / August 19, 2024 / Timberline Resources Corporation (OTC QB:TLRS)(TSX-V:TBR) ("Timberline" or the "Company") has announced the successful closure of its merger with McEwen Mining Inc. ("McEwen"). This follows the satisfaction of all merger conditions and approval by Timberline stockholders on August 16, 2024.

Upon completion, Timberline merged into a wholly owned subsidiary of McEwen, surviving as such. As per the agreement, Timberline stockholders received 0.01 shares of McEwen's common stock for each Timberline share. The interim financing arrangement between the two firms has now become an intercompany arrangement within McEwen.

Cormark Securities Inc. acted as Timberline's financial advisor, with Davis Graham & Stubbs LLP serving as legal counsel.