Formation Minerals, Inc. Announces Entry Into $10,000,000 Equity Financing Agreement with GHS Investments, LLC

Core Viewpoint - Formation Minerals, Inc. has entered into a $10,000,000 Equity Financing Agreement with GHS Investments, LLC to support its growth and development in the oil and gas sector [2][5]. Financing Agreement Details - The Agreement allows Formation to sell up to $10 million shares of its common stock to GHS at an initial purchase price of 80% of the market price, over a 24-month period following SEC registration [3][7]. - The proceeds from the sale will be used for general corporate purposes, working capital, and potential acquisitions [4]. Company Strategy and Market Position - Formation Minerals focuses on acquiring and managing mineral and royalty interests in lower-risk, onshore oil and gas properties across major U.S. basins [2][8]. - The company aims to optimize its portfolio and invest in high-potential properties, maintaining a buy low and sell high strategy [5]. Background Information - Formation Minerals is based in Jacksboro, Texas, and is involved in the energy sector, specifically targeting revenue-producing assets [8]. - The company currently holds interests in several key U.S. basins, including the DJ Basin, Haynesville Shale, and Permian Basin [8].