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-Sutter Securities handles Timberline Resources common stock placement.

BANKING AND CREDIT NEWS-March 1, 2011--Sutter Securities handles Timberline Resources common stock placement(C)2011 M2 COMMUNICATIONS http://www.m2.com

1 March 2011 -- US investment bank Sutter Securities Inc has been picked agent for Timberline Resources Corp's (AMEX:TLR) direct sale of 5,263,158 common shares, the US precious metals properties developer said.

The company is placing the securities at USD0.95 apiece with US institutional investors. It eyes some USD5m (EUR3.6m) in gross proceeds. The net amount will go for exploration and development activities, working capital requirements, acquisitions, or for other general corporate purposes, Timberline Resources said.

The deal should be wrapped up on or around 2 March 2011.

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Publication:M2 Banking & Credit News (BCN)
Date:Mar 1, 2011
Words:124
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