Vancouver, British Columbia, Feb. 04, 2022 (GLOBE NEWSWIRE) -- Forty Pillars Mining Corp. (the “Company” or “Forty Pillars”) (CSE:PLLR) announces that it has made a strategic investment of $200,000 into CAVU Mining Corp. (CSE:CAVU).
“This strategic investment allows Forty Pillars the opportunity to participate in what could be a very significant new gold / copper belt in Canada. With the tight land positions in the area and the high cost of exploration, making a strategic investment was a less dilutive way to create value from this highly prospective area. The Company continues to look at unique new opportunities like CAVU, and its own Wishbone gold project in the Golden Triangle to build value for its shareholders”, stated Nader Vatanchi, CEO and Director.
The investment in CAVU is arms’ length.
About CAVU Mining Corp.
CAVU Mining Corp. is a junior mining company engaged in the acquisition, exploration and development of mineral projects containing metals used in green technologies and the renewable energy sector. CAVU Mining Corp. is focused on the exploration of its Hopper Copper-Gold Project in Yukon.
The transaction
Forty Pillars has purchased 500,000 units of CAVU Mining Corp. at 40 cents per unit, with each unit comprising one common share and one share purchase warrant, with each warrant being exercisable into one common share at a price of 60 cents for a period of 2 years.
For more information, please contact:
Nader Vatanchi, CEO
778-881-4631
nadervatanchi@hotmail.com
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release may constitute "forward-looking information" within the meaning of Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the forward-looking statements in this release, including without limitation, statements pertaining to the Company’s exploration programs, the Company’s mineral property development plans and the use of funds raised in the Private Placement, are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those ex- pressed or implied in such forward-looking statements. Such uncertainties and risks include, without limitation, financing risks, delays in obtaining or inability to obtain required regulatory approvals, legislative, environmental and other judicial, regulatory, political or competitive developments, exploration and operational difficulties, the timing of future business expenditures, the potential of the Company’s mineral properties and changes in economic conditions or financial markets. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release
