ASC issues written decision regarding Greenfire Resources Ltd.’s Shareholder Rights Plan

CALGARY, AB, July 24, 2025 /CNW/ – An Alberta Securities Commission (ASC) panel has issued a written decision providing reasons for its November 6, 2024 order related to certain securities of Greenfire Resources Ltd. (Greenfire).

On September 16, 2024, several entities managed by Waterous Energy Fund Management Corp. (Waterous) entered into agreements (the Share Purchase Agreements) to purchase Greenfire shares from three sellers. On September 18, 2024, Greenfire adopted a Shareholder Rights Plan. Waterous and the sellers filed an application with the ASC on September 26, 2024, to cease trade that plan. Greenfire filed an application with the ASC on October 2, 2024, primarily to cease trade any transfer of Greenfire shares under the Share Purchase Agreements. The November 6, 2024 order granted the application of Waterous and the sellers and dismissed Greenfire’s application.

A copy of the written decision can be found on the ASC website at asc.ca.

The ASC is the regulatory agency responsible for administering the province’s securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada’s capital markets.

SOURCE Alberta Securities Commission