Forty Pillars Announces Grant of Stock Options and RSUs
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Forty Pillars Announces Grant of Stock Options and RSUs
Vancouver, British Columbia – December 31, 2024 – Forty Pillars Mining Corp. (“Forty” or the “Company”) (CSE: PLLR), a North American mineral acquisition and exploration company, announces that it has granted an aggregate of 315,000 stock options (“Options”) and 100,000 restricted share units (“RSUs”) pursuant to its omnibus equity incentive compensation plan to certain consultants of the Company. The stock options are exercisable at a price of $0.10 per share and expire five years from the date of grant. The RSUs shall vest four months after the date of grant.
The Options, RSUs, and the underlying shares will be subject to a four month hold period expiring May 1, 2025 in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange.
The Company also announces that, further to its news release dated December 26, 2024, the Company has completed its non-brokered private placement of flow-though common shares (“FT Shares”). The Company previously issued an aggregate of 1,818,182 flow-through common shares at $0.11 per FT share for gross proceeds of $200,000. The Company will not be closing additional tranches of the private placement.
About Forty Pillars
Forty Pillars Mining Corp. is a Vancouver, B.C. based mineral exploration company focused on exploring the Silver Dollar Project located in the Greenwood Mining Division, B.C. The Company also has an option to acquire a 100% interest in the Val-d’Or North property in the Abitibi subprovince of Quebec.
FOR FURTHER INFORMATION CONTACT:
Nader Vatanchi Chief Executive Officer e:[email protected] p: 778-881-4631 The Canadian Securities Exchange has not approved or disapproved this news release. This news release may contain statements which constitute “forward‐looking information”. The words “may”, “potential”, “should”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, and similar expressions, are intended to identify such forward‐looking statements. Investors are cautioned that any such forward‐looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward‐looking statements. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.