East West Petroleum Announces Name Change and Consolidation

Rhea-AI Summary

East West Petroleum (TSXV: EW) has announced two significant corporate changes: a name change to East West Minerals Ltd. and a 10-for-1 share consolidation. The company, which currently has 90,485,665 outstanding common shares, will see this number reduced to approximately 9,048,566 shares post-consolidation.

Both changes are expected to be implemented shortly after September 22, 2025, following the ex-distribution date of a previously announced capital reduction and special distribution. The company's stock symbol will remain unchanged, and these corporate actions are pending TSX Venture Exchange approval.

Vancouver, British Columbia--(Newsfile Corp. - September 17, 2025) -  East West Petroleum Corp. (TSXV: EW) ("East West" or the "Company") announces that it intends to change the Company's name from "East West Petroleum Corp." to "East West Minerals Ltd." (the "Name Change"). Concurrently with the Name Change the Company will be consolidating its common shares on a ten (10) for one (1) basis (the "Share Consolidation"). It is expected that the Name Change and Consolidation will be completed shortly after September 22, 2025, being the ex-distribution date of the capital reduction and special distribution discussed in the Company's news release of September 11, 2025.

The Company currently has 90,485,665 common shares issued and outstanding. Following the proposed Share Consolidation, the Company will have approximately 9,048,566 common shares issued and outstanding prior to rounding for fractional shares. The Share Consolidation and Name Change were approved by the board of directors of the Company but remain subject to the approval of the TSX Venture Exchange (the "TSXV"). The Company will issue a further news release upon receiving TSXV approval, announcing the effective date of the Name Change and Consolidation. The Company's stock symbol will remain unchanged.

On Behalf of the Board

"Nick DeMare"

Nick DeMare,
Director & Interim CEO

1305 - 1090 West Georgia Street, Vancouver, BC, Canada, V6E 3V7
Tel: 604.685.9316 | Fax: 604.683.1585

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release may contain forward-looking statements. All statements, other than statements of historical fact, constitute "forward-looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266751

FAQ

What is the new share consolidation ratio for East West Petroleum (TSXV: EW)?

East West Petroleum announced a 10-for-1 share consolidation, which will reduce the number of outstanding shares from 90,485,665 to approximately 9,048,566.

When will East West Petroleum's name change and share consolidation take effect?

The changes are expected to be implemented shortly after September 22, 2025, following the ex-distribution date of a previously announced capital reduction and special distribution.

What is East West Petroleum's new company name?

The company will change its name from East West Petroleum Corp. to East West Minerals Ltd.

Will East West Petroleum's stock symbol change after the corporate restructuring?

No, the company's stock symbol will remain unchanged following the name change and share consolidation.

How many shares will East West Petroleum have outstanding after the consolidation?

After the 10-for-1 share consolidation, the company will have approximately 9,048,566 common shares outstanding, subject to rounding for fractional shares.