Greenfire Resources Announces Preliminary Results for Rights Offering

Executive Summary

• Greenfire Resources announced preliminary results of its C$300 million rights offering, which was oversubscribed.
• The company expects to issue up to 55,147,058 common shares and use net proceeds (after expenses) plus cash on hand to fully redeem its US$237.5 million senior secured notes due 2028.
• Final results will be confirmed after the rights offering closes on December 17, 2025.

Key Details

• Offering Size: C$300 million rights offering (preliminary).
• Maximum Shares to Issue: 55,147,058 common shares.
• Subscriptions Received:
• Basic subscription privilege – 53,567,940 shares subscribed.
• Additional subscription privilege – 23,794,471 shares subscribed.
• Pro‑Rata Allocation: 1,579,118 shares to be allocated among additional‑privilege holders on a pro‑rata basis.
• Closing Date: Expected to close on December 17, 2025 (the same day as this release).
• Use of Proceeds: Net proceeds (less offering expenses) plus existing cash will be applied to redeem the outstanding US$237.5 million aggregate principal amount of 12.00% senior secured notes due 2028.
• Rights Agent Activity: Will provide DRS statements evidencing new shares to registered holders as soon as practicable after closing.
• Regulatory Notices: Offering made pursuant to a Form F‑10 registration statement filed November 5, 2025; no offer or solicitation in jurisdictions where unlawful.

Notable Quotes

(No executive quotes were included in the release.)