Greenfire Resources Ord Shs T.GFR

Waterous Energy Fund closes acquisition of 43.3% of GFR

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- the GFR MANAGEMENT & BODs were EXTREMELY CARELESS in NOT HAVING the SHAREHOLDER RIGHTS PLAN RIGHT AFTER EXITING the SPAC

* M3-Brigade Acquisitiom III Corp. 'APPEARS' to have OVERLOOKED the POSSIBILITY that their BABY, Greenfire Resouces Inc.; would be a TAKEOVER CANDIDATE SO SOON

* M3-Brigade Sponsor III LP had 3,850,000 GFR shares on EXITING SPAC - they also had 2,526,667 New Greenfire Warrants

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Waterous Energy Fund closes acquisition of 43.3% of the shares of Greenfire Resources Ltd.

 

November 11, 2024 7:00 AM  PR Newswire

 

CALGARY, AB, Nov. 11, 2024 /PRNewswire/ – Waterous Energy Fund Management Corp. (the “WEF Manager”), in its capacity as manager of certain limited partnerships comprised of Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund III (US) LP, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP and Waterous Energy Fund III (International FI) LP (collectively, “WEF”), announces that it has closed its previously announced acquisition of an aggregate of 29,988,854 common shares (the “Purchased Shares”) of Greenfire Resources Ltd. (“Greenfire”) (TSX and NYSE: GFR) (the “Transaction”). The Purchased Shares represent approximately 43.3% of the issued and outstanding common shares of Greenfire, and were acquired for cash consideration of USD$8.05 per Purchased Share, representing an aggregate purchase price of approximately USD$241,261,721.

The closing of the Transaction follows the decision by the Alberta Securities Commission issued on November 6, 2024 granting WEF’s application to cease trade Greenfire’s initial shareholder rights plan, and dismissing Greenfire’s cross-application to cease trade the Transaction.

For further information, please contact Waterous Energy Fund at [e-mail].29dk2902l

SOURCE Waterous Energy Fund Management Corp.

https://boereport.com/2024/11/11/waterous-energy-fund-closes-acquisition-of-43-3-of-the-shares-of-greenfire-resources-ltd/

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- a CREEPING TAKEOVER is a REAL POSSIBILITY NOW that Waterous Energy Fund (WEF) has 43.3% OWNERSHIP of Greenfire Resources Ltd. - MANY POTENTIAL BUYERS are NOW going to be REPELLED by the HUGE WATEROUS ANCHOR STAKE and the TAKEOVER PREMIUM will be ELIMINATED and the BUYOUT PRICE will be SHARPLY REDUCED - the CEO of GFR is going to be ONE of the BIGGEST LOSERS and there is a 'HIGH PROBABILITY

[matt2018]

pretty sad if BOD's did not look after the best interests of all the shareholders. Maybe Brigade & the other large asset mngt co's were informed of this move and were on board? Dont you require a high % of shares to exercise a "creeping takeover"? Does not look like it trades enough volume to accumulate size on the open market. Maybe once they gain control of board they will

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- there are 3 LARGE GFR SHAREHOLDERS (including the CEO of GFR) who can AFFORD REALLY GOOD & EXPENSIVE LAWYERS and have the ABILITY to MOUNT a BITTER PROXY FIGHT should it COME to THAT - therefore , the RETAIL INVESTORS of Greenfire Resources are NOT WITHOUT POWERFUL ALLIES WATCHING OVER THEM to GET the BEST OUTCOME - the FIRST INDICATION of the POWER BALANCE will be OVER HOW MANY GFR BODs