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East West Petroleum Corp V.EW

Alternate Symbol(s):  EWPMF

East West Petroleum Corp. is a Canadian exploration and production company. The Company is pursuing conventional exploration and development oil and gas opportunities around the globe. In Romania, the Company has exploration rights in two exploration concessions, including EX-7 and EX-8.


TSXV:EW - Post by User

Bullboard Posts
Post by Jman1076on Mar 14, 2019 2:40pm
69 Views
Post# 29486945

Message to Compliance Department at TSE

Message to Compliance Department at TSEWhat David Sidoo is attempting to do now with the Juva Life reverse merger of EW: Mr. Sidoo has had some problematic past business practices that you may want to follow-up on to see of his reputation. In addition to self serving addressed in Policy 5.3 from the TSE(see below), he also issued a Management Circular that was deficient in trying to do a reverse merger of Juva Life obtaining control over East West Petroleum. He is attempting to take control shortly after NIS, EW partner in Romania, discovered oil. With them we control 1,000,000 acres of mineral rights which is likely to have a value of $1,000,000,000. Of this, EW's share which is 15 percent should be in the 100 - 150 million dollar range. The Managrment Curcular was found to be deficient by the British Columbia Securities Commission late last week. One of the key reasons this was rejected is that no independent assessment was made of our assets including our Romanian mineral rights. Through his control of the BoD, which currently is 3 seats, David and his son Dylan control two of those seats. Please review East West Sockhouse listing for even more issues with Mr. Sidoo's past practices. What David Sidoo did in the Past with EW's Cash while sittind on both the BoD of EW as well as the compamy receiving the funds POLICY 5.3 - ACQUISITIONS AND DISPOSITIONS OF NON-CASH ASSETS 7. Restrictions on Investments by Issuers 7.1 Tier 2 Issuers (other than Investment Issuers) are not permitted to purchase securities of other reporting issuers for cash, either in the secondary market or as a Private Placement from treasury, except where the Issuer is participating in a joint venture and the investment consists of subscription to a Private Placement in the partner in the joint venture. I am not sure that EW is or was at the time a Tier 2 Issuer, but it very likely is as most listed issuers are. I was unaware of the serious nature of East West Petroleum investing in other TSXV reporting companies, in which they are also directors and/or officers. If you go to SEDAR and click on the the EW interim financial statements for the six months ended 9/30/2018 (posted on SEDAR on 11/9/2018), you will see that EW holds investments in the common shares of the following companies: (a) Advantage Lithium Corp. 1,771,000 shares (b) Seaway Energy Services, Inc. 512,400 shares (c) American Helium Inc. 28,000 shares (a) Warrants Advantage Lithium 333,350 Certain directors and officers of East West Petroleum Corp ("The Company") are also directors and/or officers of Advantage Lithium Corp., Seaway Energy Services, Inc. and American Helium Inc. David Sidoo is on the board of directors of all of these companies, as well as on the board and CEO of East West Petroleum Corp. This is in clear violation of TSXV rules and regulations. Please review East West Sockhouse listing for even more issues with Mr. Sidoo's past practices.
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