Greenfire Resources Ltd. Completes C$775 Million Rights Offering

Greenfire Resources Ltd. announced the completion of its C$775 million rights offering, which allowed eligible shareholders to purchase additional common shares. The offering expired on September 15, 2025. The net proceeds were used to repay a C$575 million bridge facility and other debts incurred from the acquisition of Connacher Oil and Gas Limited. Following the offering, the corporation anticipates having approximately C$570 million drawn on its C$1.0 billion reserves based revolving credit facility. A total of 114,985,163 common shares were issued at C$6.74 or US$4.81 per share, raising approximately C$774 million. The offering was fully subscribed, and the standby commitment was not utilized. As of September 16, 2026, Greenfire Resources Ltd. had 240,413,692 common shares issued and outstanding.