Tamarack Valley, Headwater agree to all-stock merger valued at $10 billion

• Tamarack Valley Energy will merge with Headwater Exploration in an all-stock deal valued at USD 10 billion.
• Headwater holders get 1 Tamarack share per share; Tamarack will issue 237,800,000 shares.
• Post-close ownership: 66.5% Tamarack shareholders, 33.5% Headwater shareholders; closing targeted mid-Q4 2026.
• Combined run-rate Clearwater output expected above 80,000 boe/day; pro forma net cash expected above CAD 50 million.
• Transaction includes spin-out of non-core assets into Tributary Exploration; Tamarack plans quarterly dividend to rise to CAD 0.06 in December 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Tamarack Valley Energy Ltd. published the original content used to generate this news brief via CNW (Ref. ID: 202609080500CANADANWCANADAPR_C9401) on September 08, 2026, and is solely responsible for the information contained therein.