Vancouver, British Columbia, Feb. 08, 2022 (GLOBE NEWSWIRE) -- Forty Pillars Mining Corp. (the “Company” or “Forty Pillars”) (CSE:PLLR) announces that pursuant to a directors resolution, the Company intends to consolidate its capital on a one-new-for-2-old basis. The name of the Company will not be changed and the trading symbol will remain the same. The Company’s 28,985,174 outstanding common shares will be consolidated into approximately 14,492,587 outstanding shares. The post-consolidated common shares will have a new CUSIP: 349801209 / ISIN CA3498012093.
The share consolidation is expected to allow the Company to gain access to more attractive financings and assets as a result of a tighter capital structure and higher share price. The effective date of the share consolidation is subject to the Company’s filings with the Canadian Securities Exchange.
About Forty Pillars
FortyPillarsMiningCorp. is a Vancouver, B.C. based mineral exploration company focused on exploring the Silver Dollar Project located in the Greenwood Mining Division, B.C.
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 estimated timing of the share consolidation, are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed 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.
