By Susanna Moon
Chicago, July 7 - FairWest Energy Corp. said it closed its previously announced private placement of common shares for C$0.10 per share after getting conditional approval from the TSX Venture Exchange to upsize the offering to C$1.5 million from C$1 million.
The company said it received C$1.29 million of proceeds and issued 12.93 million common shares to subscribers.
Proceeds are being used to reduce debt with trade creditors.
FairWest is an oil and natural gas company based in Calgary, Alta.
| Issuer: | FairWest Energy Corp.
|
| Issue: | Common shares
|
| Amount: | C$1,293,000
|
| Shares: | 12.93 million
|
| Price: | C$0.10
|
| Warrants: | No
|
| Settlement date: | July 7
|
| Stock symbol: | Toronto: FEC
|
| Stock price: | C$0.06 at close July 6
|
| Market capitalization: | C$7.79 million
|
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