McEwen Mining Inc. has successfully completed the acquisition of all issued and outstanding shares of Timberline Resources Corporation through a merger with a subsidiary of McEwen Mining. The shareholders of Timberline overwhelmingly approved the transaction. As a result, Timberline’s shares will be delisted from the TSX Venture Exchange and OTCQB Venture. Former Timberline shareholders will receive 0.01 McEwen Mining shares for each Timberline share they hold. McEwen Mining plans to enhance the Eureka project with further exploration, permitting, and development in Nevada. The transaction also benefited from exemptions per the TSX Company Manual. The company emphasizes future growth and operating in Nevada, improving asset productivity, and enhancing shareholder yield. The release also highlighted risks and uncertainties inherent in forward-looking statements.
Mining, Mergers and Acquisitions (M&A), Precious Metals,United States, Canada
https://www.globenewswire.com/news-release/2024/08/19/2932444/37420/en/McEwen-Mining-Announces-Closing-of-Timberline-Acquisition.html