Woodbridge Ventures II Inc., a capital pool company as defined under TSX Venture Exchange Policy 2.4 – Capital Pool Companies, has entered into a non-binding letter of intent dated May 6, 2025 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 the resulting issuer that will continue on the business of Greenflame.

Greenflame is a private enhanced oil recovery (EOR) oil production company incorporated under the laws of Alberta.