Mr. Nader
Vatanchi reports
FORTY PILLARS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Forty
Pillars
Mining
Corp. has arranged a non-brokered private placement offering of up to 10 million units at a price of five cents per unit for aggregate gross proceeds of up to $500,000.
Each unit will be composed of one common share and one transferrable share purchase warrant. Each warrant entitles the holder to acquire an additional share at a price of 10 cents per share for a period of five years from the date of issuance.
The company may pay finders' fees to eligible finders in connection with the offering.
The proceeds raised from the offering are expected to be used for working capital and general corporate purposes. All securities to be issued under the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange. Completion of the offering is subject to certain conditions, including the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange.
About
Forty Pillars Mining Corp.
Forty Pillars, based in Vancouver, B.C., is a mineral exploration company focused on exploring the Silver Dollar project located in the Greenwood mining division, British Columbia. The company also has an option to acquire a 100-per-cent interest in the Val d'Or North property in the Abitibi subprovince of Quebec and an option to acquire a 100-per-cent interest in the Golden Link project located in central Newfoundland.
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