Woodbridge Ventures extends transaction with Greenflame

Executive Summary

• Woodbridge Ventures II Inc. has extended the deadline to enter into a definitive agreement for its proposed transaction with Greenflame Resources Inc. to September 15, 2025.
• The deadline for the completion of the transaction has been extended to November 30, 2025; failing this, the non-binding letter of intent (LOI) may be terminated.
• The transaction involves an arrangement, amalgamation, share exchange, or similar transaction to form a resulting issuer continuing the business of Greenflame, constituting a non-arm's-length qualifying transaction.

Key Details

• Transaction Parties: Woodbridge Ventures II Inc. and Greenflame Resources Inc.
• Transaction Structure: Arrangement, amalgamation, share exchange, or similar transaction to form a resulting issuer that will continue on the business of Greenflame.
• Key Dates:
  • Original LOI signed: May 8, 2025.
  • Extended deadline for definitive agreement: September 15, 2025.
  • Extended deadline for completion: November 30, 2025.
• Relationship: The transaction is non-arm's-length. Raphael Danon serves as Director and CEO of Woodbridge, and Director, COO, and CFO of Greenflame.
• Target Company (Greenflame Resources Inc.):
  • Private enhanced-oil-recovery (EOR) oil production company incorporated in Alberta.
  • Operates under a production-sharing agreement (PSA) with New Horizon Trinidad and Tobago Ultd.
  • Project: EOR project in the Parrylands field on Block E onshore in southwestern Trinidad.
  • Revenue Share: Entitled to 75% of revenue from oil production, net of royalties.
  • Development Status: 300 of 744 acres developed; 110 wells drilled with full operational facilities in place.
• Reserve Estimates (Parrylands Block E):
  • 1P Net Reserves: 7,994,000 stock tank barrels.
  • 2P Net Reserves: 14,361,000 stock tank barrels.
  • 3P Net Reserves: 21,736,000 stock tank barrels.
  • Evaluation Standards: Canadian Oil and Gas Evaluation Handbook and National Instrument 51-101.

Notable Quotes

• None provided in the text.