Core Points - Greenfire Resources Ltd. has announced a reconstitution of its Board of Directors and the acquisition of additional Greenfire Securities by Waterous Energy Fund (WEF) [9][11] - WEF's acquisition increases its ownership to 56.5% of the issued and outstanding common shares of Greenfire [11] - The Strategic Review process will continue with WEF's support, focusing on enhancing shareholder value [12] Board Reconstitution - The Board has appointed Tom Ebbern as Lead Director and he will be supported by other board members [10] - Three board members, Matthew Perkal, Robert Logan, and Jonathan Klesch, have resigned immediately [17] - Six nominees proposed by WEF will be appointed to the Board, with Adam Waterous serving as Chairman [17] Strategic Review Process - The Strategic Review will evaluate various alternatives to enhance value for all shareholders and will be overseen by a special committee led by Mr. Ebbern [12][21] - Greenfire intends to appoint a new financial advisor to support the Strategic Review process, replacing TD Securities [12] - The Second Rights Plan has been terminated, and WEF has withdrawn its requisition for a shareholder meeting [18]
Greenfire Resources Announces Reconstitution of the Company's Board of Directors, Acquisition of Additional Greenfire Securities by WEF and Continuation of the Strategic Review