Formation Minerals, Inc. to raise $10M 

JACKSBORO, Texas — Formation Minerals, Inc. (OTCQB: FOMI), an oil and gas company focused on the acquisition and management of mineral and royalty interests within the major oil and gas plays in the United States, including Colorado’s DJ Basin, has entered plans to raise $10 million in a financing agreement with GHS Investments.

According to a news release, the company plans to use the proceeds for general corporate and working capital, as well as for the acquisitions of assets, businesses or operations.

“Formation has a unique business plan which allows for the opportunistic acquisition of revenue producing assets in the energy sector,” Scott Cox, Chief Executive Officer of Formation, said in a news release. “We will continue pursuing a true buy-low-and-sell-high-strategy based upon our secure platform and are very bullish on oil and gas at this time and look forward to capitalizing on the opportunities we see currently.”

“Our proactive approach allows us to optimize our portfolio and invest in high-potential properties. Formation remains dedicated to continuously refining our asset mix, maximizing returns, and creating sustainable value for our shareholders,” Cox said.

Formation is an oil and gas company based in Jacksboro, Texas, focused on acquiring and managing high-growth oil and gas minerals and royalties in the premier U.S. basins. The company owns producing mineral, royalty, and overriding royalty interests in the DJ Basin of Colorado and Wyoming, the Haynesville Shale of Louisiana, the Delaware and Permian Basin of Texas, the Marcellus and Utica shales in West Virginia, and the Anadarko Basin in Oklahoma.

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