East West Petroleum Provides Further Update on Special Distribution, Name Change and Consolidation

Rhea-AI Summary

East West Petroleum (TSXV: EW) announced the completion of its previously disclosed capital reduction and special distribution. The company is proceeding with two significant corporate changes: a name change to "East West Minerals Ltd." and a share consolidation at a ratio of 10:1.

These corporate actions are expected to be implemented around October 6, 2025. The changes follow the company's earlier announcements from September 2025 regarding these corporate restructuring initiatives.

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Vancouver, British Columbia--(Newsfile Corp. - October 2, 2025) - East West Petroleum Corp. (TSXV: EW) ("East West" or the "Company") is pleased to advise that the capital reduction and special distribution discussed in the Company's news releases of September 11, 2025 and September 22, 2025 (the "Special Distribution") have now been completed.

Further to its news releases of September 17, 2025 and September 22, 2025 relating to the proposed name change from "East West Petroleum Corp." to "East West Minerals Ltd." (the "Name Change") and consolidation of its common shares on a ten (10) for one (1) basis (the "Share Consolidation"), the Company also wishes to advise that it will now be moving forward with the Name Change and Consolidation and expects that those will be implemented on or about October 6, 2025.

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/268830

FAQ

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

East West Petroleum announced a share consolidation ratio of ten (10) for one (1), meaning every 10 existing shares will be consolidated into 1 new share.

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

The company expects to implement both the name change and share consolidation on or about October 6, 2025.

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."

Has East West Petroleum completed its special distribution?

Yes, East West Petroleum has completed the capital reduction and special distribution that were previously announced in September 2025.