M3-Brigade Acquisition III Corp. in its US$950 million business combination with Greenfire Resources Inc.

On December 15, 2022, M3-Brigade Acquisition III Corp. and Greenfire Resources Inc. announced they have entered a definitive agreement for a business combination valued at US$950 million. Upon completion of the transaction, Greenfire Resources Inc. will become the parent of the combined company, which will focus on optimizing its existing oil sands production and facilities.

M3-Brigade Acquisition III Corp. is a special purpose acquisition company 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.

Greenfire Resources Inc. is Calgary-based oil sands producer focused on the sustainable production and development of thermal energy resources in Alberta, Canada.

Osler, Hoskin & Harcourt LLP advised M3-Brigade Acquisition III Corp. 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), Kaeleigh Kuzma and D’Arcy White (Competition).