Announcement • 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. Announcement • 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. New Risk • Jan 29
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 63% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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$287k free cash flow). Share price has been highly volatile over the past 3 months (29% average weekly change). Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$3.22m market cap, or US$2.38m). New Risk • Nov 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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$374k free cash flow). Share price has been highly volatile over the past 3 months (49% average weekly change). Earnings have declined by 3.2% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$1.62m market cap, or US$1.16m). Minor Risk Shareholders have been diluted in the past year (16% increase in shares outstanding). Board Change • Aug 12
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Ash Misquith was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jun 30
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$639k 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$639k free cash flow). Shareholders have been substantially diluted in the past year (186% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$662.0k market cap, or US$484.2k). Announcement • 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. Announcement • 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 (26% 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 (CA$3.53m market cap, or US$2.54m). Announcement • 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 16
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. Board Change • May 06
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. Announcement • Mar 15
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 offering of up to 5,000,000 common shares at an issue price of CAD 0.10 per share for the gross proceeds of CAD 500,000 on March 13, 2024. All securities to be issued under the Offering will be subject to a four month and one day hold period in accordance with applicable Canadian securities laws. New Risk • Feb 18
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 96% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Shareholders have been substantially diluted in the past year (96% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$671.1k market cap, or US$497.6k). Minor Risk Less than 3 years of financial data is available. New Risk • Jan 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 50% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Revenue is less than US$1m. Market cap is less than US$10m (CA$1.43m market cap, or US$1.06m). Minor Risks Less than 3 years of financial data is available. Shareholders have been diluted in the past year (50% increase in shares outstanding). Announcement • Jan 17
Forty Pillars Mining Corp. announced that it has received CAD 0.122 million in funding On January 16, 2024, Forty Pillars Mining Corp. closed the transaction. The securities issued under the Offering are subject to a four month hold period expiring on May 17, 2024, in accordance with applicable Canadian securities laws. Announcement • Dec 16
Forty Pillars Mining Corp. announced that it expects to receive CAD 0.122 million in funding a non-brokered private placement to issue 2,440,000 units to issue price of CAD 0.05 per Unit for the gross proceeds of CAD 122,000 on December 15, 2023. Each Unit will consist of one common share and one transferrable common share purchase warrant. Each Warrant will entitle the holder to purchase one additional common share in the capital of the Company at an exercise price of CAD 0.06 per share for a period of five years following the closing of 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. Announcement • Nov 18
Forty Pillars Mining Corp. Announces Board Changes Forty Pillars Mining Corp. announced that Mr. Dorian Banks has joined the board of directors. Mr. Banks is a lifelong international entrepreneur with focuses on technology, blockchain and agri-tech. Notably, he has built companies from the ground up in wireless technologies, mobile phone gaming and APPs, large scale plantations, UAV technology, 3D printing and crypto-currency mining. He has served as a senior executive and/or board member of over a dozen publicly traded companies over the past two decades, arranging financings from some of the largest global banks. The Company further advised that Christopher Reynolds has resigned as a director of the Company. Board Change • Nov 09
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Chris Reynolds was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 21
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Chris Reynolds was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 17
Forty Pillars Mining Corp. Announces Board Changes Forty Pillars Mining Corp. announced that effective October 16, 2023, Ms. Emma Fairhurst has resigned as a director. The Company announced that Mr. Ashish (Ash) Misquith has been appointed a director of the Company effective October 16, 2023. Mr. Misquith has extensive experience in business development and start-ups. He has invested in multiple private and public companies and IPOs (initial public offerings). He is the founder ofiftgrade, an artificial intelligence (AI) application that allows teachers to grade students in a timely and efficient manner. Mr. Misquith is an advocate for continuous education and is a former semi-professional tennis player. Recent Insider Transactions • Aug 06
Independent Director recently bought CA$110k worth of stock On the 29th of July, Emma Fairhurst bought around 2m shares on-market at roughly CA$0.05 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Board Change • Jul 15
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. 4 non-independent directors. Director Emma Fairhurst was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 21
Forty Pillars Mining Corp., Annual General Meeting, Aug 19, 2022 Forty Pillars Mining Corp., Annual General Meeting, Aug 19, 2022. Board Change • Jun 17
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. 4 non-independent directors. Director Emma Fairhurst was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
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. 4 non-independent directors. Director Emma Fairhurst was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 29
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. 4 non-independent directors. Director Blake Morgan was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Executive Departure • Oct 12
Corporate Secretary & Director Alexander Klenman has left the company On the 5th of October, Alexander Klenman's tenure as Corporate Secretary & Director ended. We don't have any record of a personal shareholding under Alexander's name. Alexander is the only executive to leave the company over the last 12 months.