An anonymous director reports

FAIRWEST OBTAINS EXTENSION UNDER CCAA

FairWest Energy Corp. obtained an order on July 16, 2013, from the Court of Queen's Bench of Alberta extending the stay of proceedings granted to FairWest under the Companies' Creditors Arrangement Act to Sept. 30, 2013.

On July 16, 2013, the court also approved certain amendments to the debtor-in-possession financing provided by Supreme Group Inc. to FairWest. The maximum amount of financing available to FairWest was increased to $2,325,000 and the maturity date of the financing was extended to Sept. 30, 2013. The debtor-in-possession financing is also subject to additional events of default which, if triggered, could result in Supreme Group withdrawing its financing from FairWest prior to Sept. 30, 2013.