Greenfire Resources Ltd. Completes Refinancing Initiatives

Greenfire Resources Ltd. announced the completion of its refinancing initiatives on December 19, 2025. These initiatives included a C$300.0 million rights offering, the redemption of US$237.5 million in senior secured notes due 2028, and an upsizing of their revolving credit facility to C$275.0 million. The rights offering, which expired on December 16, 2025, resulted in the issuance of 55,147,055 common shares at C$5.44 or US$3.85 per share, generating approximately C$298.5 million in gross proceeds. These proceeds, along with cash on hand, were used to redeem the 2028 notes. As a result of these transactions, Greenfire Resources Ltd. became debt-free as of December 19, 2025. The total number of issued and outstanding common shares is now 125,404,146.