Company sells flow-through common shares to fund exploration projects
By Devika Patel
Knoxville, Tenn., Dec. 31 - FairWest Energy Corp. said it closed a private placement of shares. The deal raised C$1.34 million on Dec. 30.
The company sold 19,104,288 flow-through common shares at C$0.07 per share. The price per share is a 40% premium to C$0.05, the Dec. 29 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$1,337,300
|
| Shares: | 19,104,288
|
| Price: | C$0.07
|
| Warrants: | No
|
| Settlement date: | Dec. 30
|
| Stock symbol: | TSX Venture: FEC
|
| Stock price: | C$0.05 at close Dec. 30
|
| Market capitalization: | C$7.69 million
|
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