Greenfire Resources Closes C$775 Million Rights Offering

Calgary, Alberta, Canada - Greenfire Resources Ltd. (NYSE and TSX: GFR) has successfully completed its previously announced C$775 million rights offering to eligible shareholders. The offering expired on September 15, 2026, resulting in the issuance of an aggregate of 114,985,163 common shares.

Common shares acquired through the exercise of rights were issued at a price of C$6.74 or US$4.81 per share, generating aggregate gross proceeds of approximately C$774 million. The company utilized the net proceeds to fully repay its C$575 million bridge facility and a portion of other indebtedness related to the acquisition of Connacher Oil and Gas Limited.

Transaction Details

• Issued 114,985,163 common shares in total.
• 114,041,317 shares issued under the basic subscription privilege.
• 943,846 shares issued under the additional subscription privilege, subject to proration.
• Total outstanding common shares reached 240,413,692 following the offering.