Company sells flow-through common shares to fund exploration projects
By Devika Patel
Knoxville, Tenn., Nov. 2 - FairWest Energy Corp. said it closed a private placement of shares.
The company said it raised C$1.67 million by selling 23,917,396 flow-through common shares at C$0.07 per share. The price per share is a 40% premium to C$0.05, the Nov. 1 closing share price.
Proceeds are being used for exploration projects designed to increase production from FairWest's lands.
FairWest is an oil and natural gas company based in Calgary, Alta.
| Issuer: | FairWest Energy Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$1,674,218
|
| Shares: | 23,917,396
|
| Price: | C$0.07
|
| Warrants: | No
|
| Settlement date: | Nov. 2
|
| Stock symbol: | Toronto: FEC
|
| Stock price: | C$0.05 at close Nov. 1
|
| Market capitalization: | C$6.72 million
|
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