01:46 PM EDT, 09/16/2024 (MT Newswires) -- Waterous Energy Fund Management said Monday that it agreed to acquire a more than 43% stake in Greenfire Resources ( GFR ) from Allard Services, Annapurna and Modro Holdings for 327.8 million Canadian dollars ($241.1 million).

Waterous Energy said it will buy nearly 30 million shares of Greenfire for a cash consideration of CA$10.93 apiece.

Completion of the deal is subject to customary closing conditions and regulatory approvals, Waterous Energy said.

Shares of Greenfire jumped past 15% in recent trading.

Price: 7.38, Change: +0.98, Percent Change: +15.31