The Shares are proposed to be disposed of by each of Allard and Annapurna for business purposes as a result of investment considerations including price, market conditions, availability of funds, evaluation of alternative investments and other factors. In connection with completion of the Transaction, each of Julian McIntyre and Venkat Siva have agreed to resign from the board of directors of Greenfire.

This news release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. An early warning report will be electronically filed by Allard and Annapurna with the applicable securities commission in each jurisdiction where Greenfire is a reporting issuer and will be available on Greenfire's SEDAR+ profile at www.sedarplus.ca.

The head office of Greenfire is located at Suite 1900, 250 – 5th Avenue SW, Calgary, Alberta T2P 2V7. The head office of Allard is located at Second Floor, 18-20 North Quay, Douglas, Isle of Man, IM1 4LE. The head office of Annapurna is located at Second Floor, 18-20 North Quay, Douglas, Isle of Man, IM1 4LE.

2 Based on the USD/CAD daily average exchange rate of CAD$1.3586 per USD$1.00 as posted by the Bank of Canada on September 13, 2024.

SOURCE Allard Services Limited

View original content: http://www.newswire.ca/en/releases/archive/September2024/16/c0824.html

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