Plaid Technologies Provides Updates on Corporate Activities and Patent Application
Vancouver, British Columbia — November 25, 2025 — Leads & Copy — Plaid Technologies Inc. (CSE: STIF) is providing updates on its corporate activities and disclosing information about its patent application for expanded graphite technology.
The company entered into a consulting agreement with Petro-Flow LLC to support business development, technical commercialization, pilot planning, partner engagement, and grant strategy initiatives. The consulting period will last three months, starting November 24, 2025.
Plaid expects this relationship with Petro-Flow LLC will help it enter the U.S. well plugging and abandonment space and become a leading supplier of graphene-reinforced plugging solutions to address methane-leaking oil and gas wells. Petro-Flow LLC is not affiliated with Plaid.
Plaid has agreed to pay Petro-Flow LLC $300,000 in U.S. currency. The payments will be divided into three installments: $100,000 upon signing the Consulting Agreement, $100,000 upon completion of Deliverable 2 (milestone-based), and $100,000 upon completion of Deliverable 3 (milestone-based). No securities or stock options are being granted to the Consultant under the terms of the engagement.
The company also announced that it acquired from Future Investments Holding OÜ (FIHO) an interest in Italian patent application No. 102023000020769, which relates to a method for obtaining expanded graphite for industrial use. Plaid received the written search report and patentability opinion from the Italian Patent and Trademark Office (UIBM) on September 9, 2025.
The examiner determined that Claims 1–9 of the Graphite Patent Application meet the requirements of novelty, inventive step, and industrial applicability, but Claim 10 did not meet the requirement of clarity. The examiner noted that Claim 10 does not clearly define the matter for which protection is sought, as it describes a desired environmental outcome of minimized emissions without identifying the technical features enabling such a result.
Following a detailed review of the examiner’s opinion and the underlying description document, FIHO and the applicant, Attimar S.A., decided not to proceed further with the Graphite Patent Application. Any amendment to Claim 10 could be rejected as adding subject matter not originally disclosed as a single embodiment. The UIBM may maintain clarity objections if functional language is retained, requiring additional undisclosed technical details, and the proposed amendments could be found obvious in light of known engineering practices.
Plaid will not take further steps to facilitate or enforce transfer of this particular patent application, given FIHO’s decision not to pursue the application.
The company’s existing technology platform continues to rely on graphene dispersion and conversion technology. The decision not to continue with the Graphite Patent Application does not affect the company’s current ability to utilize its existing graphene inventory, acquire graphene on the open market, or produce graphene using know-how independent of the patent application.
The company will not hold patent protection relating to the Expanded Graphite Technology, and any future development of graphite-based precursor technologies may require additional investment, new filings, or alternative IP strategies.
Regarding the return of shares related to the patent application, on July 30, 2025, the Company (then Veji Holdings Ltd.) completed the acquisition of the FIHO Assets, consisting of 8,750 grams of graphene and Italian patent application No. 102023000020769 (the “FIHO Assets”). As consideration for the FIHO Assets, the Company issued 4,200,000 pre- Share Split Common Shares (the “Consideration Shares”) at a deemed price of $0.50 per Consideration Shares, for an aggregate value of $2.1 million (the “FIHO Transaction”). On November 10, 2025, the Company completed a four (4) for one (1) stock split (the “Share Split”), increasing its then-issued share capital from 17,389,473 Common Shares to 69,557,892 Common Shares. All previously issued Consideration Shares were adjusted proportionately in accordance with the stock split.
The 2,000,000 post-Share Split Consideration Shares now being returned represent a portion of the Consideration Shares originally issued under the FIHO Transaction that was attributable to the patent application component of the FIHO Assets. The return of these shares reflects the determination by FIHO and the Patent Applicant not to proceed with the Graphite Patent Application.
Following this decision, the parties to the original asset purchase transaction reassessed the portion of consideration that had been attributed to the patent application. In connection with this reassessment, and in light of the discontinuation of the patent-application process, a shareholder of FIHO has agreed to return 2,000,000 post- Share Split Common Shares to the Company for cancellation in compliance with applicable laws. The cancellation represents approximately 12% of FIHO’s original consideration.
The cancellation and return to treasury of these shares remain subject to acceptance by the Canadian Securities Exchange and any other applicable conditions.
Additionally, Plaid Technologies has entered into a marketing agreement with bullVestor Medien GmbH to provide marketing services for three months, starting November 24, 2025. BullVestor is not affiliated with Plaid. bullVestor will provide content creation, ad group and display ad development, keyword optimization, project management, and media distribution services to increase general awareness of Plaid’s business.
Plaid has agreed to pay bullVestor €400,000 in three installments: €150,000 within seven days after the Marketing Agreement date, €125,000 within forty days after the Marketing Agreement date, and €125,000 within 60 days after the Marketing Agreement date. Either party may terminate this Marketing Agreement at any time during the term by providing thirty days’ prior written notice to the other party.
The company confirms that the marketing activities will comply with all applicable CSE policies, including Policy 7 – Investor Relations, Promotional Activity and Other Significant Transactions.
Typically, cement costs amount to more that USD $20,000, or approximately 15-20% of the cost of plugging a well. With more than 4.5Million orphaned or abandoned wells in the United States alone, there could be demand for as much as $100Billion in graphene-reinforced concrete.
Guy Bourgeois, Director & Chief Executive Officer
Telephone: 1-800-585-7517
Email: info@plaidtechnologiesinc.com
Source: Plaid Technologies Inc.
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