Woodbridge Ventures extends transaction with Greenflame

Mr. Raphael Danon reports Further to Woodbridge Ventures II Inc.'s news release of May 8, 2025, in which the company announced the signing of a non-binding letter of intent (LOI) with Greenflame Resources Inc., a corporation existing under the laws of the Province of Alberta, whereby Woodbridge and Greenflame will complete an arrangement, amalgamation, share exchange or similar transaction to ultimately form a resulting issuer that will continue on the business of Greenflame, the deadline to enter into a definitive agreement has been extended to Sept. 15, 2025, and the deadline for the completion of the transaction to Nov. 30, 2025, failing which the LOI may be terminated. Raphael Danon is a director and chief executive officer of Woodbridge and is also a director and chief operating officer and chief financial officer of Greenflame. The transaction constitutes a non-arm's-length qualifying transaction. About Greenflame Resources Inc. Greenflame is a private enhanced-oil-recovery (EOR) oil production company incorporated under the laws of Alberta. Greenflame has entered into a production-sharing agreement (PSA) with New Horizon Trinidad and Tobago Ultd., where Greenflame is a service provider, using its skills and technical expertise to operate an EOR project in the Parrylands field on Block E onshore in southwestern Trinidad. Greenflame is currently producing oil on the property and is entitled to 75 per cent of the revenue from oil production, net of royalties. Three hundred acres of the 744 acres of the property are developed, with 110 wells drilled, with full operational facilities in place. Based on an evaluation that has been carried out in accordance with standards set out in the Canadian Oil and Gas Evaluation Handbook and National Instrument 51-101, Standards of Disclosure for Oil and Gas Activities, the Parrylands Block E has 1P net reserves of 7,994,000 stock tank barrels, 2P net reserves of 14,361,000 stock tank barrels and 3P net reserves of 21,736,000 stock tank barrels. We seek Safe Harbor.