FairWest Energy Corporation has closed its previously announced private placement offering of flow-through common shares. In the closing, the Company issued 32,714,330 flow-through common shares at $0.07 for proceeds of $2,290,003.

The Shares were issued with a four month hold period pursuant to securities rules. A director purchased $20,000 of the offering and a significant shareholder of the Company purchased $2,100,000 of the offering.

The proceeds will be expended in 2012 on exploration projects designed to increase production from FairWest's lands.

Tags: FairWest Energy