East West currently operates as an oil & gas exploration and development corporation. The first step in the restructuring is the spin-out of oil & gas assets, with corresponding cash flow and all other assets to a new wholly-owned subsidiary of East West. The Company will then spin out the shares of this new subsidiary (“Newco”) to its shareholders pursuant to a plan of arrangement (“Plan of Arrangement”). Following the Plan of Arrangement, Newco will be owned by the current shareholders of the Company and will carry on the oil and gas business of the Company. As part of the Plan of Arrangement the Company will move forward to complete the acquisition of Juva. The company’s capital structure will be amended to allow the plan of arra…
Read the full article at: https://www.newswire.ca/news-releases/east-west-petroleum-announces-corporate-restructuring-and-loi-to-acquire-juva-life-inc-688433961.html