Forty Pillars Mining Corp. entered into an agreement to acquire 3,971 ha Wishbone Property Located in Golden Triangle, B.C. from Origen Resources Inc. for CAD 3 million.

Forty Pillars Mining Corp. (CNSX:PLLR) entered into an agreement to acquire 3,971 ha Wishbone Property Located in Golden Triangle, B.C. from Origen Resources Inc. (CNSX:ORGN) for CAD 3 million on October 4, 2021. Pursuant to the transaction, Forty Pillars will pay a total of CAD 3 million, consisting of CAD 1 million cash and CAD 2 million promissory note with a three year term bearing interest at 5% per annum, payable monthly.

Forty Pillars will also grant a 1% net smelter return to Origen. Half of the NSR can be purchased prior to commercial production for CAD 1 million. Forty Pillars will also be obligated to make the remaining share issuances and cash payments under the original property agreement, being 200,000 common shares and CAD 0.5 million cash by May 29, 2022 and 200,000 common shares and CAD 0.5 million by May 29, 2023.

The transaction is subject to the company's filing requirements with CSE. Forty pillars also arranged a private placement financing of up to fifteen million units at CAD 0.10 cents per unit for gross proceeds of up to CAD 1.5 million to be used to purchase the property.