Offering price reflects 100% premium to closing price on Monday
By Susanna Moon
Chicago, July 23 - FairWest Energy Corp. said it plans a private placement for up to 40 million shares at C$0.05 per share for proceeds of up to C$2 million.
The price per share is a 100% premium to the company's closing price on July 23.
Proceeds will be used for working capital for drilling, completions, workovers and facilities on the company's properties as well as for general corporate purposes.
FairWest is an oil and natural gas company based in Calgary, Alta.
| Issuer: | FairWest Energy Corp.
|
| Issue: | Common shares
|
| Amount: | C$2 million
|
| Price: | C$0.05
|
| Warrants: | No
|
| Pricing date: | July 23
|
| Stock symbol: | Canada: FEC
|
| Stock price: | C$0.025 at close July 23
|
| Market capitalization: | C$7.1 million
|
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