East west petroleum announces proposed return of capital

Vancouver, british columbia--(newsfile corp. - june 19, 2024) - east west petroleum corp. (tsxv: ew) ("east west" or the "company") announces that the board of directors has determined that its in the best interest of the company to return capital to its shareholders by way of a reduction in stated capital of the company. the company will call a special meeting of its shareholders, to be held in august 2024 (the "meeting"), where shareholders will be asked to consider and, if advisable, approve, among other things, a reduction in the stated capital of the company (the "capital reduction"), which is currently $39,868,761, by up to $ 3 million, pursuant to the business corporations act (british columbia), for the purposes of distributing to the holders of common shares of the company a portion of the company's cash in the amount of $0.03 per common share (the "distribution").
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