East West Petroleum Announces Proposed Return of Capital

Core Viewpoint - East West Petroleum Corp. has decided to return capital to its shareholders through a reduction in stated capital, which is currently $39,868,761, by up to $3 million, to facilitate a cash distribution of $0.03 per common share [1][6]. Group 1: Capital Reduction and Distribution - The Company will hold a special meeting in August 2024 to seek shareholder approval for the proposed Capital Reduction and Distribution [6]. - The Distribution aims to provide shareholders with a portion of the Company's cash, amounting to $0.03 per common share [6]. - The Capital Reduction and Distribution are contingent upon receiving necessary shareholder and regulatory approvals [6]. Group 2: Meeting and Documentation - Further details regarding the Capital Reduction, Distribution, and special meeting will be provided in a management information circular to be filed with regulatory authorities and mailed to shareholders in July 2024 [2]. - Shareholders are encouraged to review the materials related to the Meeting once they become available [7].