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The latest announcement is out from East West Petroleum ( (TSE:EW) ).
East West Petroleum Corp. has announced a plan to distribute approximately $3 million to its shareholders, subject to shareholder and regulatory approvals. This distribution will be structured as a return of capital and accompanied by a 10-for-1 share consolidation, reducing the number of outstanding shares significantly. The company aims to maintain sufficient working capital post-distribution to continue operations and pursue new opportunities in the natural resource sector, with expectations to complete a transaction within six months.
More about East West Petroleum
East West Petroleum Corp. operates in the natural resource exploration and development sector, focusing on opportunities within the petroleum industry.
Average Trading Volume: 84,916
Technical Sentiment Signal: Hold
Current Market Cap: C$3.62M
For an in-depth examination of EW stock, go to TipRanks’ Overview page.