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The latest update is out from East West Petroleum ( (TSE:EW) ).
East West Petroleum Corp. has announced a special distribution to its shareholders, involving a $2,714,570 reduction in stated capital and a distribution of $0.03 per common share. This move, which involves re-designating and exchanging shares, is significant as it represents more than 25% of the company’s market value, prompting the TSX Venture Exchange to apply ‘Due Bill’ trading procedures. This distribution is expected to impact the company’s market positioning and shareholder value.
More about East West Petroleum
East West Petroleum Corp. operates in the petroleum industry, focusing on the exploration and production of oil and gas resources. The company is listed on the TSX Venture Exchange and is involved in various projects aimed at capitalizing on energy market opportunities.
Average Trading Volume: 65,594
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$4.98M
For an in-depth examination of EW stock, go to TipRanks’ Overview page.