SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Timberline Resources
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: sense who wrote (30)2/8/2014 8:09:25 AM
From: balaw  Read Replies (1) of 104
 
I was referring to this release:

Timberline Updates Status of Funding Agreement COEUR D'ALENE, IDAHO--(Marketwired - Feb 6, 2014) - Timberline Resources Corporation (NYSEMKT:TLR)(TSX-VENTURE:TBR) ("Timberline" or the "Company") announced today that it has not received any funds from RockStar Resources ("RockStar") pursuant to the Exclusivity Fee specified in the No-Shop/Exclusivity clause of the Confidentiality Agreement entered into by the Company and RockStar in December 2013.

As previously announced on December 5, 2013, RockStar had agreed to purchase a total of US$750,000 of Timberline's common stock for US$0.20 per share in three equal monthly tranches beginning on December 31, 2013. Although RockStar continues to seek financing, it has not fulfilled its funding commitments for December 31, 2013 and January 31, 2014. Timberline and RockStar are continuing discussions and reviewing multiple options for a potential transaction as contemplated in their original confidentiality agreement and alternative sources of financing.

So I now assume since they did not meet the terms of the agreement it is void and Timberline is free to talk with others. RockStar wasted managements time or deliberately delayed progress towards seeking alternative financing by imposing the no shop/exclusivity clause?
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News