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| Home : FairWest Energy Closes Private Placements |
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Apr 02
2011 |
FairWest Energy Closes Private Placements |
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CALGARY, ALBERTA--(Marketwire - April 1, 2011) - FairWest Energy Corporation (TSX VENTURE:FEC) ("FairWest" or the "Company") announces that it closed the first tranche of the private placement offerings announced on March 14, 2011 to issue 10 million common shares and 10 million flow-through common shares. On March 31, 2011, the Company issued 8,072,000 flow-through common shares at $0.25 per flow-through common share for aggregate proceeds of $2,018,000. The Company also issued 3,285,000 common shares at $0.20 per common share for aggregate proceeds of $657,000. The Shares were issued with a four month hold period pursuant to securities rules. The proceeds will be expended in 2011 and 2012 on exploration and development projects designed to increase production from FairWest's lands. The Company anticipates closing the balance of the private placement offerings on or before April 20, 2011. |
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| Source:http://www.marketwire.com/mw/release.do?id=1421258&sourceType=3 |
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