CW Petroleum (CWPE) issues 120,000,000 common to CEO in exchange
Rhea-AI Filing Summary
CW Petroleum Corp entered into a Share Exchange Agreement dated July 2, 2026 under which CEO and director Christopher Williams exchanged 240,000 shares of Series A Preferred Stock for 120,000,000 shares of Common Stock. The agreement is attached as Exhibit 10.1 and is incorporated by reference.
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Insights
Share exchange converts preferred into common held by CEO; governance and cap table changes are the primary effects.
The filing documents a Share Exchange Agreement where 240,000 Series A Preferred were exchanged for 120,000,000 Common on July 2, 2026. This transaction changes the composition of the company's equity held by the CEO.
Exact post-exchange ownership percentages and voting impacts are not provided in the excerpt; subsequent filings or the agreement exhibit may show outstanding share counts and any resulting governance effects.