By Devika Patel
Knoxville, Tenn., June 16 - FairWest Energy Corp. said it will raise C$2 million in a private placement of flow-through shares.
The company will sell 20 million flow-through shares at C$0.10 per share.
Settlement is expected July 20.
Proceeds will be used for exploration and development.
FairWest is an oil and natural gas company based in Calgary, Alta.
| Issuer: | FairWest Energy Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$2 million
|
| Shares: | 20 million
|
| Price: | C$0.10
|
| Warrants: | No
|
| Pricing date: | June 16
|
| Settlement date: | July 20
|
| Stock symbol; | Toronto: FEC
|
| Stock price: | C$0.07 at close June 15
|
| Market capitalization: | C$7.66 million
|
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