Core Points - Waterous Energy Fund Corp. has increased its interest in Greenfire Resources Ltd. to 56.5% of the issued and outstanding common shares through an acquisition [3] - Greenfire Resources has initiated a Change of Control Offer for its 12.000% Senior Secured Notes due 2028, following the acquisition [9][10] - The Change of Control Offer will commence on December 27, 2024, and will expire on February 19, 2025, with a withdrawal deadline of February 20, 2025 [4] Offer Details - The consideration for each US$1,000 principal amount of Notes tendered will be US$1,010, which is 101% of the principal amount, plus accrued and unpaid interest [10] - The Issuer expects to purchase any validly tendered Notes on February 24, 2025, provided they are not withdrawn by the withdrawal deadline [4][10] - The Depositary for the Change of Control Offer is The Bank of New York Mellon [11] Company Overview - Greenfire Resources is an intermediate, lower-cost, and growth-oriented producer in the Athabasca oil sands, utilizing steam-assisted gravity drainage extraction methods [13]
Greenfire Resources Announces Change of Control Offer to Purchase 12.000% Senior Secured Notes due 2028