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Wolfpack Gold Corp. and Timberline Resources Corporation to Merge; Wolfpack Announces Financing
Wolfpack Gold Corp. and Timberline Resources Corporation to Merge; Wolfpack Announces Financin...
About this update from Encore Energy Corp.
[{"type":"text","content":"Wolfpack Gold Corp. and Timberline Resources Corporation to Merge; Wolfpack Announces FinancingWolfpack Gold Corp. and Timberline Resources Corporation to Merge; Wolfpack Announces Financing\n\nNOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n\nReno, Nevada US, March 13, 2014 /FSC/ - Wolfpack Gold Corp.  (WFP - TSX Venture), (\"Wolfpack\" or the \"Company announced today it has agreed in principle to merge with Timberline Resources Corporation (NYSE MKT: TLR; TSX-V: TBR) (\"Timberline\") creating a Nevada focused gold exploration company with a substantial portfolio of quality assets in a world class jurisdiction.\n\nWolfpack and Timberline have agreed to an exclusivity period expiring April 22, 2014, during which time the parties will conduct their respective due diligence.  Upon completion of satisfactory due diligence, the parties will conclude a definitive agreement.  The merger is expected to be completed by a plan of arrangement or other suitable mechanism. \n\nWith the focus on Nevada, it is currently anticipated that prior to merging, Timberline will transfer ownership of its partially permitted Butte Highlands Gold Project in Montana to its existing shareholders through a spin-out or similar transaction. Similarly, Wolfpack will transfer its ownership of its uranium assets to its shareholders prior to the merger. The exact mechanism and timing of these transfers has yet to be finalized.  \n\n\"Combining gold and uranium assets within Wolfpack successfully protected our projects, with reduced overhead and operating costs, during a very difficult market. With the planned pre-merger spinoff, Wolfpack's existing shareholders will continue to benefit fully from any future developments with our uranium properties,\" said William M. Sheriff, Chairman of Wolfpack Gold Corp. \"At the same time, this merger will see us focus on expanding the resource at South Eureka-Lookout Mountain as our lead project. We believe that a partnership with Timberline will enhance shareholder value and provide us with greater access to the United States markets.\"  \n\nThe transaction is expected to be structured such that Timberline will acquire all of the outstanding shares of Wolfpack and on completion, former Wolfpack shareholders will hold, as a...