Fury Resources fails to meet $200M funding deadline for Battalion Oil merger; company evaluating options

BATTALION OIL CORP

Fury Resources informed Battalion it cannot deliver evidence of $200M aggregate financing by the April 10, 2024 funding deadline.
Battalion has the right to terminate the merger agreement and collect a closing failure fee guaranteed by Abraham Mirman.
Company has not terminated yet; board and special committee are evaluating options, including possible merger agreement changes.
The merger agreement had been amended three times since December 2023; this failure creates deal uncertainty.
Battalion reserved all rights and remedies under the merger agreement and applicable law.

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