File: Attachment 2025-02-25 - NR - ONV ~ Announces Share Consolidation.pdf

ORONOVA ENERGY INC. ANNOUNCES PROPOSED SHARE CONSOLIDATION

February 25, 2025 TSXV: ONV.H

Vancouver, BC, Oronova Energy Inc. ("Oronova" or the "Company") (TSX.V: ONV.H) is pleased to announce that the Board of Directors of the Company has approved a consolidation of its issued and outstanding share capital on the basis of one (1) new common share for every ten (10) outstanding common shares (the "Consolidation"). The Consolidation remains subject to TSX Venture Exchange approval.

Within three trading days of obtaining the acceptance of the TSX Venture Exchange, the Company is expected to begin trading on the TSX Venture Exchange on a post-consolidated basis under its current stock symbol "ONV.H". The Company will not change its name, but will be obtaining a new CUSIP and ISIN number for its common shares in connection with the Consolidation.

As of February 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 post-consolidation 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 post-consolidation 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.

On behalf of the Board of Oronova Energy Inc.

"Geir Liland"

Chief Executive Officer

For further information contact: Tel: (604) 609-6110

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.

Oronova Energy Inc.

3123 595 Burrard Street, Vancouver, British Columbia, V7X 1J1. Canada. Tel: +1 604 609 6110 Fax: +1 604 609 6145

File: '\\swfile\EmailIn\20250225 135033 Attachment 2025-02-25 - NR - ONV ~ Announces Share Consolidation.docx'

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Oronova Energy Inc.

Registered Office: 25th Floor, 700 West Georgia Street, Vancouver, British Columbia, V7Y 1C3. Canada.

Tel: +1 604 609 6110 Fax: +1 604 609 6145

11377458v2

Oronova Energy Inc.

3123 - 595 Burrard Street, Vancouver, British Columbia, V7X 1J1. Canada.

Tel: +1 604 609 6110 Fax: +1 604 609 6145

ORONOVA ENERGY INC. ANNOUNCES PROPOSED SHARE CONSOLIDATION

February 25, 2025 TSXV: ONV.H

Vancouver, BC, Oronova Energy Inc. ("Oronova" or the "Company") (TSX.V: ONV.H) is pleased to announce that the Board of Directors of the Company has approved a consolidation of its issued and outstanding share capital on the basis of one (1) new common share for every ten (10) outstanding common shares (the "Consolidation"). The Consolidation remains subject to TSX Venture Exchange approval.

Within three trading days of obtaining the acceptance of the TSX Venture Exchange, the Company is expected to begin trading on the TSX Venture Exchange on a post-consolidated basis under its current stock symbol "ONV.H". The Company will not change its name, but will be obtaining a new CUSIP and ISIN number for its common shares in connection with the Consolidation.

As of February 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 post-consolidation 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 post-consolidation 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.

On behalf of the Board of Oronova Energy Inc.

"Geir Liland"

Chief Executive Officer

For further information contact: Tel: (604) 609-6110

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.