Far East Energy was pleased to announce earlier this week that they have a decisive arrangement with certain institutional investors to sell in a registered direct offering an aggregate of approximately 11.66 million shares of its common stock at a price of $0.43 per share for aggregate gross proceeds of $5.01 million.
"We are very pleased to welcome new institutional investors to Far East," noted Michael R. McElwrath, CEO of Far East. "The participation of major institutional investors in this offering highlights the confidence the investor community has put in our business strategy and our future growth. We look forward to closing this offering and having the capital we need to execute our business plan, including our Shouyang 1H Pilot Area drilling program," added McElwrath.
Best Damn Penny Stocks, a leading financial publication, is pleased to alert investors of stocks on the move.
Sign Up for our Free Stock Newsletter
Far East Energy Corporation
Based in Houston, Texas, with offices in Beijing, Kunming, and Taiyuan City, China, Far East Energy Corporation is focused on coal-bed methane exploration and development in China.
Sign up for the free Best Damn Penny Stocks newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website
About Best Damn Penny Stocks
Best Damn Penny Stocks is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We also track small cap companies that are on the brink of a financial breakout. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer
