Forty Pillars arranges $500,000 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 purchase of an additional share at $0.10 for five years.
• Proceeds will be used for working capital and general corporate purposes; securities are subject to a four‑month hold period under Canadian regulations.

Key Details

• Offering size: Up to 10 million units.
• Price per unit: $0.05 (five cents).
• Maximum gross proceeds: $500,000.
• Unit composition: 1 common share + 1 transferable share purchase warrant.
• Warrant terms: Right to acquire one additional share at $0.10 per share; exercisable for five years from issuance date.
• Finder’s fees: Company may pay eligible finders in connection with the offering.
• Use of proceeds: Working capital and general corporate purposes.
• Holding period: All securities issued will be subject to a four‑month hold period pursuant to Canadian securities laws and CSE policies.
• Closing conditions: Completion contingent upon receipt of all required approvals, including CSE approval.

Notable Quotes

(No direct quotes were provided in the release.)