Company intends to finance exploratory drilling and seismic surveys
By Devika Patel
Knoxville, Tenn., Nov. 30 - FairWest Energy Corp. said it plans a C$2.1 million private placement of shares.
The company will sell 30 million flow-through common shares at C$0.07 per share. The price per share is a 7.69% premium to C$0.065, the Nov. 29 closing share price.
Proceeds will be used for exploratory drilling and seismic surveys on FairWest properties.
FairWest is an oil and natural gas company based in Calgary, Alta.
| Issuer: | FairWest Energy Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$2.1 million
|
| Shares: | 30 million
|
| Price: | C$0.07
|
| Warrants: | No
|
| Pricing date: | Nov. 30
|
| Stock symbol: | Toronto: FEC
|
| Stock price: | C$0.065 at close Nov. 29
|
| Market capitalization: | C$15.78 million
|
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