Greenfire Resources Announces Preliminary Results for Rights Offering

Core Viewpoint - Greenfire Resources Ltd. announced preliminary results of its C$300 million rights offering, which was oversubscribed and is expected to close on December 17, 2025 [1][2][3]. Group 1: Rights Offering Details - The rights offering is expected to issue 55,147,058 common shares, with 53,567,940 shares subscribed under the basic subscription privilege and 23,794,471 shares under the additional subscription privilege [2]. - A total of 1,579,118 common shares will be allocated on a pro rata basis among holders who exercised their additional subscription privilege [2]. - The final results of the rights offering will be confirmed after the closing procedures by the rights agent [2][3]. Group 2: Use of Proceeds - The proceeds from the rights offering, after deducting offering expenses, will be used to fund the redemption of the Company's outstanding US$237.5 million aggregate principal amount of 12.00% senior secured notes due 2028 [4]. Group 3: Company Overview - Greenfire is an oil sands producer focused on developing long-life and low-decline thermal oil assets in the Athabasca region of Alberta, Canada [6]. - The Company aims to leverage its large resource base and significant infrastructure to achieve capital-efficient production growth while prioritizing operational excellence and safety [6].