Forty Pillars Announces Closing of Non-Brokered Private Placement

Executive Summary

• Forty Pillars Mining Corp. closed a non‑brokered private placement, issuing 10,710,000 units at $0.05 per unit for total gross proceeds of $535,500.
• Each unit includes one common share and one transferable warrant; the warrants are exercisable at $0.10 per share until March 2 2028 (now a 24‑month exercise period).
• Proceeds will be used for working capital and general corporate purposes; cash finder’s fees of $32,580 were paid and 651,600 finder’s warrants were issued.

Key Details

• Units Issued: 10,710,000 units @ $0.05 each → Gross proceeds: $535,500.
• Unit Composition: 1 common share + 1 transferable warrant per unit.
• Warrant Terms: Exercise price $0.10 per share; exercisable until March 2 2028 (24‑month period from issuance).
• Finder’s Compensation: Cash fees of $32,580 paid; 651,600 finder’s warrants issued, each granting the right to purchase one additional share at $0.10 until March 2 2028.
• Use of Proceeds: Working capital and general corporate purposes.
• Holding Period: All securities subject to a four‑month hold period per CSE rules.
• Closing Conditions: Subject to receipt of all required approvals, including CSE approval.

Notable Quotes

(No direct quotes were provided in the release.)