Greenfire Resources Ltd. Completes C$775 Million Rights Offering

Greenfire Resources Ltd. has announced the successful completion of its C$775 million rights offering, which expired on September 15, 2026. The company issued an aggregate of 114,985,163 common shares, representing the maximum allotment available. The rights offering was oversubscribed, with shares issued at C$6.74 or US$4.81 each, resulting in gross proceeds of approximately C$774 million. The net proceeds will be used to fully repay the company's C$575 million bridge facility and a portion of other indebtedness incurred from the acquisition of Connacher Oil and Gas Limited. Following the offering, Greenfire has 240,413,692 common shares issued and outstanding. Waterous Energy Fund, a significant shareholder, maintained its approximately 72.0% ownership stake post-offering. The company also provided an update on its financial position, noting approximately C$570 million drawn on its C$1.0 billion reserves-based revolving credit facility.