Board Change • 16h
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. 1 experienced director. No highly experienced directors. 1 independent director (2 non-independent directors). CEO, President & Director Nader Vatanchi is the most experienced director on the board, commencing their role in 2021. Independent Director Ash Misquith was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. お知らせ • Mar 03
Forty Pillars Mining Corp. announced that it has received CAD 0.5355 million in funding On March 2, 2026, Forty Pillars Mining Corp. closed the transaction. The company announced that it has completed its non-brokered private placement of units. The company announced that it has issued 10,710,000 units at CAD 0.05 for gross proceeds of CAD 535,500. The company paid finder fees of CAD 132,580 and issued 651,600 finder warrants. Each Finder’s Warrant entitles the holder to acquire an additional Share at a price of CAD 0.10 per Finder’s Warrant Share until March 2, 2028. お知らせ • Feb 09
Forty Pillars Mining Corp. announced that it expects to receive CAD 0.5 million in funding Forty Pillars Mining Corp. announces a non-brokered private placement offering of up to 10,000,000 units at a price of CAD 0.05 per unit for aggregate gross proceeds of up to CAD 500,000 on February 7, 2026. 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 CAD 0.10 per share for a period of five years from the date of issuance. 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. お知らせ • Jan 30
Forty Pillars Mining Corp. announced that it expects to receive CAD 0.35 million in funding Forty Pillars Mining Corp. announced a non-brokered private placement offering of up to 4,666,667 units at a price of CAD 0.075 per unit for aggregate gross proceeds of up to CAD 350,000 on January 29, 2025. Each unit will comprise one common share and one transferable common share purchase warrant. Each warrant entitles the holder to acquire an additional common share at a price of CAD 0.15 per share for a period of five years from the closing of the offering. The company may pay finders' fees to eligible finders in connection with the offering. All securities to be issued under the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws. お知らせ • Dec 18
Forty Pillars Mining Corp. announced that it expects to receive CAD 0.5 million in funding Forty Pillars Mining Corp. announced a non-brokered private placement of up to 4,545,455 flow-through common shares at an issue price of CAD 0.11 per share for the gross proceeds of CAD 500,000.05 on December 17, 2024. All securities issued pursuant to the offering will be subject to a statutory hold period of four months from the date of issuance and the resale rules of applicable securities legislation. The closing of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the Canadian Securities Exchange. The company may pay finders' fees to eligible finders in connection with the offering. New Risk • Nov 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$400k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$400k free cash flow). Share price has been highly volatile over the past 3 months (40% average weekly change). Shareholders have been substantially diluted in the past year (over 5x increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (€2.33m market cap, or US$2.54m). お知らせ • Sep 17
Forty Pillars Mining Corp., Annual General Meeting, Nov 25, 2024 Forty Pillars Mining Corp., Annual General Meeting, Nov 25, 2024. Board Change • Jul 11
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Dorian Banks was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.