McEwen Mining acquires Timberline Resources in stock-for-stock merger at 0.01x ratio

McEwen Inc.

Each Timberline share converts to 0.01 McEwen share; fractional shares rounded up to whole share.
Bridge loan from McEwen to Timberline up to monthly budget at 15% annual interest, matures Oct 15, 2024.
Termination fee of $400,000 payable by Timberline if it accepts a superior proposal or changes recommendation.
Directors and significant stockholders of Timberline sign voting agreement to support the merger.
Closing expected by Oct 13, 2024, subject to Timberline stockholder approval, SEC effectiveness, and listing.

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