Forty Pillars Announces Non-Brokered Private Placement

Executive Summary

• Forty Pillars Mining Corp. announced a non‑brokered private placement of up to 10 million units at $0.05 per unit, targeting gross proceeds of up to $500,000.
• Each unit consists of one common share and one transferable warrant allowing the purchase of an additional share at $0.10 for five years.
• Proceeds are earmarked for working capital and general corporate purposes; securities will be subject to a four‑month hold period under CSE rules.

Key Details

• Offering Size: Up to 10,000,000 units (maximum gross proceeds of $500,000).
• Unit Composition: 1 common share + 1 transferable warrant per unit.
• Pricing: $0.05 per unit; warrant exercise price $0.10 per share.
• Warrant Terms: exercisable for five years from issuance; transferrable.
• Use of Proceeds: Working capital and general corporate purposes.
• Holding Period: Four‑month lock‑up in accordance with Canadian securities laws and CSE policies.
• Conditions to Completion: Receipt of all necessary approvals, including CSE approval; possible payment of finder’s fees to eligible finders.
• Contact: Nader Vatanchi, Chief Executive Officer – [email protected] / 778‑881‑4631.

Notable Quotes

(No direct quotes were provided in the release.)