Timberline Resources Corporation (OTCPK:TLRS) announced a private placement of 5,000,000 units at $0.25 per unit for gross proceeds of $1,250,000 on January 13, 2017. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to acquire additional common share at $0.40 per share until the warrant expiration date of January 31, 2020. The company may accelerate the warrant expiration date if the price of the its common stock closes at or above $0.90 for twenty consecutive trading days. The securities are subject to legal restrictions on transfer and resale. The company has also granted an over-allotment option to increase the offering by up to 20%, solely to persons who qualify as accredited investors.