Timberline Resources Corp. (OTC:TLRS) Stock In Focus After Upsizing of Non-Brokered Private Placement

This past Friday, Timberline Resources Corp. (OTC:TLRS) made a significant new announcement that may bring its stock into focus among investors this week. The company announced at the time that it had decided to raise the size of the number of units in Timberline Resources Corp. that would be offered in a non-brokered private placement. The units would be offered for $0.04 each.

As per the announcement, the size of the offering had been raised by as much as 18000000 units for generating gross proceeds to the tune of $720000. However, all the other terms pertaining to the offering remained the same. Timberline Resources noted that it expected the offering to be closed on December 29, 2023, or around that date.

The company further noted in its news release that the unit would be offered only to those who qualify as accredited investors as per the rules of the Securities Act of 1933. The offering could be concluded in more than a single tranche and would be subject to approval awarded by the TSX Venture Exchange. Additionally, Timberline Resources Corp. also noted that the securities that would be offered in the private placement would not be registered under the provisions of the Securities Act or the securities laws of a state.

Additionally, securities may not be sold in the United States or outside it without the requisite registration or the necessary exemption from the registration requirements related to the Securities Act. Last but certainly not least, it was noted that the securities in the offering would be subject to a hold period in alignment with the relevant securities laws. The common stock of the company trades on the OTCQB under the ticker symbol TLRS. Additionally, it is also listed on the TSX Venture Exchange, where it trades under the ticker symbol TBR.