On September 20, 2023, Greenfire Resources Inc., a Calgary-based energy company focused on the sustainable production and development of thermal energy resources from the Athabasca region of Alberta, announced the closing of its business combination with M3-Brigade Acquisition III Corp., a New York Stock Exchange (“NYSE”) listed special purpose acquisition company (“MBSC”), which valued Greenfire at US$950 million and was previously announced on December 15, 2022. The newly combined company is named Greenfire Resources Ltd.
M3-Brigade Acquisition III Corp. is organized by the founders and senior executives of M3 Partners LP and Brigade Capital Management LP for the purpose of effecting a merger, stock purchase or similar transaction with one or more businesses.
Burnet, Duckworth & Palmer LLP advised Greenfire on Canadian matters with a team that included Ted Brown.
Osler, Hoskin & Harcourt LLP advised M3-Brigade on Canadian matters with a team consisting of Neal Ross, Emmanuel Pressman, Mike Proudfoot, Lindsay Hofer, Alan Lee (Corporate), Colena Der, Shaira Nanji (Tax), Simon Baines (Oil & Gas), Shaun Parker, Abigail Omale (Employment & Labour) and Kaeleigh Kuzma (Competition).