Fiddlehead Resources Corp. (“Fiddlehead” or the “Company“) is pleased to announce that the Alberta Energy Regulator (“AER“) has completed its review of the Directive 088 transfer application related to the well, facility, and pipeline licenses acquired as part of the previously announced Ferrier acquisition.
On Friday, August 1, 2025, the AER transferred the Ferrier licenses to Fiddlehead. The Company is now actively working with the Vendor to transition operatorship of the assets, with completion expected no later than September 1, 2025.
Fiddlehead extends its appreciation to the AER for its diligence and ongoing stewardship of Alberta’s energy and mineral resources.
With the successful completion of the Directive 088 license transfer, Fiddlehead is poised to advance its strategy of acquiring and developing high-quality, accretive assets. Furthermore, this milestone represents meaningful progress toward the anticipated closing of Fiddlehead’s previously announced Cynthia acquisition.
President, CEO and Chairman Brent Osmond commented:
“The successful completion of the Directive 088 License Transfer Application represents a significant milestone in Fiddlehead’s continued growth. With this approval, we now have the ability to directly manage the day-to-day operations of our newly acquired Ferrier assets, fully leverage our team’s expertise, and advance firm plans for future capital investment.
Our team has been diligently identifying opportunities to enhance value across the Ferrier assets, and we’re excited to begin executing on that potential. On behalf of all Fiddlehead stakeholders, I want to thank the Alberta Energy Regulator for their diligence and collaboration throughout the transfer process.
We are pleased with the outcome and look forward to building our production base and presence as a new operator in the Province of Alberta.”
Share Issuance
In connection with the acquisition of a private producer in the Cynthia area of Alberta previously announced on April 10, 2025 (“Cynthia Transaction“), the Company has issued 5,000,000 common shares of the Company as a non-refundable deposit as part of the original consideration to extend the closing date of the Cynthia Transaction to accommodate the AER Ferrier license transfer review.
In connection with the amendment of its existing lending agreement announced on June 26, 2025, the Company has issued 1,000,000 common shares as a refinancing fee to its lender.
The Cynthia Transaction and the Debt Facility is expected to occur on or about September 12, 2025, and is subject to customary TSX Venture Exchange (“TSXV“) and regulatory approvals.
Results of the Annual General and Special Meeting
Fiddlehead also announces the results of its Annual General and Special Meeting of Shareholders held on July 10, 2025 (the “AGSM“).
At the AGSM, the shareholders approved all of the resolutions detailed in the information circular for the AGSM, namely:
- to set the number of directors at six (6);
- to elect the directors;
- to re-appoint the Company’s auditor;
- to approve the continuation of the Company’s Rolling Omnibus Plan;
- to transact on all other matters that may property come before the AGSM.
At the AGSM, 8,174,177 common shares of the Company were voted, representing 13.51% of the Company’s issued and outstanding common shares. The following table details the results:
| Motion | Number of Shares | Percent of Votes Cast | ||||||
| For | Against | Withhold/Abstain | Spoiled | Open | For | Against | Withheld/Abstain | |
| Number of Directors | 8,174,177 | 0 | 0 | 0 | 0 | 100.000 % | 0.000 % | 0.000 % |
| Elect Brent Osmond as Director | 8,174,177 | 0 | 0 | 0 | 0 | 100.000 % | 0.000 % | 0.000 % |
| Elect David Ritter as Director | 8,174,177 | 0 | 0 | 0 | 0 | 100.000 % | 0.000 % | 0.000 % |
| Elect Dale Miller as Director | 8,174,177 | 0 | 0 | 0 | 0 | 100.000 % | 0.000 % | 0.000 % |
| Elect Clifford Neil Smith as Director | 8,174,177 | 0 | 0 | 0 | 0 | 100.000 % | 0.000 % | 0.000 % |
| Elect Gregory Turnbull as Director | 8,174,177 | 0 | 0 | 0 | 0 | 100.000 % | 0.000 % | 0.000 % |
| Elect Stephanie Bunch as Director | 8,174,177 | 0 | 0 | 0 | 0 | 100.000 % | 0.000 % | 0.000 % |
| Appointment of Auditors | 8,174,177 | 0 | 0 | 0 | 0 | 100.000 % | 0.000 % | 0.000 % |
| Re-Approve Rolling Omnibus Plan | 8,129,892 | 44,285 | 0 | 0 | 0 | 99.458 % | 0.542 % | 0.000 % |
Fiddlehead’s Board of Directors welcomes Ms. Stephanie Bunch in joining the Board. Ms. Bunch is a Chartered Professional Accountant with over 30 years of experience in oil & gas, retail, technology and consulting. She has previously served as an officer of many public and private companies. Ms. Bunch holds a Bachelor of Commerce and a Bachelor of Science from the University of Alberta.
2025 Guidance
Following closing of the Cynthia Transaction, Fiddlehead anticipates providing guidance for full year 2025. The guidance will include a full update incorporating the Assets, the Cynthia assets, as well as an update on Fiddlehead’s current asset base.
Advisors
Research Capital Corporation acted as financial advisor in connection with the Cynthia Transaction.
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