Mr. Geir Liland reports

ORONOVA ENERGY INC. ANNOUNCES PROPOSED SHARE CONSOLIDATION

The board of directors of Oronova Energy Inc. has approved a consolidation of its issued and outstanding share capital on the basis of one new common share for every 10 outstanding common shares. The consolidation remains subject to TSX Venture Exchange approval.

Within three trading days of obtaining the acceptance of the TSX-V, the company is expected to begin trading on the TSX-V on a postconsolidated basis under its current stock symbol, ONV.H. The company will not change its name but will be obtaining a new Cusip number and ISIN (international securities identification number) for its common shares in connection with the consolidation.

As of Feb. 25, 2025, Oronova has 43,802,828 shares issued and outstanding. After the consolidation, there will be approximately 4,380,283 common shares issued and outstanding (subject to any differences due to rounding). The company will not be issuing fractional postconsolidation common shares to shareholders in connection with the consolidation. Where the consolidation would otherwise result in a shareholder being entitled to a fractional common share, the number of postconsolidation common shares issued to such holder of common shares shall be rounded up to the next greater whole number of common shares if the fractional entitlement is equal to or greater than 0.5 and shall be rounded down to the next lesser whole number of common shares if the fractional entitlement is less than 0.5. In calculating such fractional interests, all common shares held by a beneficial holder shall be aggregated.

We seek Safe Harbor.