Greenfire acknowledges receipt of wef letter seeking control of the company without offering a premium to shareholders

Calgary, alberta--(newsfile corp. - november 20, 2024) - greenfire resources ltd. (nyse: gfr) (tsx: gfr) ("greenfire" or the "company"), a calgary-based energy company focused on the production and development of thermal energy resources from the athabasca region of alberta, canada, today confirmed it has received a letter (the "wef letter") from 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"), which recently announced the acquisition of approximately 43.3% of greenfire's issued and outstanding shares, in which wef called for the resignation of all current greenfire directors to be replaced by its handpicked nominees, an effort greenfire believes is an attempt to secure control of the company without making an offer to all shareholders.
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