Deal funds exploratory and development drilling during 2012 and 2013
By Devika Patel
Knoxville, Tenn., Jan. 25 - FairWest Energy Corp. said it negotiated a C$4.05 million private placement of units.
The company will sell units of one flow-through common share and one warrant at C$0.06 per unit.
Each warrant is exercisable at C$0.08 until Sept. 30, 2012. The strike price is a 6.67% premium to the Jan. 24 closing share price of C$0.075.
Proceeds will be used for exploratory and development drilling on FairWest properties during 2012 and 2013.
FairWest is an oil and natural gas company based in Calgary, Alta.
| Issuer: | FairWest Energy Corp.
|
| Issue: | Units of one flow-through common share and one warrant
|
| Amount: | C$4.05 million
|
| Price: | C$0.06
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Sept. 30, 2012
|
| Warrant strike price: | C$0.08
|
| Pricing date: | Jan. 25
|
| Stock symbol: | TSX Venture: FEC
|
| Stock price: | C$0.075 at close Jan. 24
|
| Market capitalization: | C$17.09 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
