VANCOUVER, June 25 2019 /CNW/ - East West Petroleum Corp. (TSX-V: EW) ("East West" or the "Company") announces that further to the Company's news release of June 24, 2019, the Company's disposition of its interest in its petroleum mining and exploration permits in New Zealand will constitute a reviewable transaction pursuant to the policies of the TSX Venture Exchange, requiring the approval of the Company's shareholders. The Company has called a special meeting for the exclusive purpose of obtaining an ordinary resolution approving the disposition of the mining and exploration permits in New Zealand, which meeting is to be held on August 7, 2019 for shareholders of record of the Company as of July 2, 2019.
The Company will be providing an information circular to shareholders detailing the terms of the proposed sale of the Company's New Zealand mining and exploration permits which is anticipated to be delivered on or about July 10, 2019
BY ORDER OF THE BOARD OF DIRECTORS
Interim CEO and Director
About East West Petroleum Corp.
East West Petroleum Corp. (www.eastwestpetroleum.ca) is a TSX Venture Exchange listed company established in 2010 to invest in international oil & gas opportunities. The Company has its primary focus on two key areas: New Zealand, where it has established production and cash flow and Romania where it is carried to production on an exploration program. In Romania the Company has exploration rights in four exploration concessions covering 1,000,000 acres in the prolific Pannonian Basin of western Romania with Naftna Industrija Srbije ("NIS"). The Company does not own the acres but has exploration rights.
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.
Forward-looking Statements: Certain statements in this press release are "forward-looking statements" which reflect the Company's current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs. In some cases, these forward-looking statements can be identified by words or phrases such as "may", "might", "will", "expect", "anticipate", "estimate", "intend", "plan", "indicate", "seek", "believe", "estimates", "predicts" or "likely", or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including without limitation, those risks and uncertainties discussed elsewhere in the Company's filings on SEDAR. Investors should not place undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date hereof and is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
SOURCE East West Petroleum Corp.
For further information: Nick DeMare, E-mail: [email protected], Tel: 604.685 9316