Battalion Oil terminates merger with Fury Resources; retains $10M, demands $15M fee

BATTALION OIL CORP

Board approved termination on Dec 19, 2024; company delivered notice Dec 20, 2024.
Company retains $9,999,999.99 previously released from escrow as partial satisfaction of termination fee.
Parent obligated to pay remaining $15,000,000 closing failure fee within 2 business days.
Guarantor Abraham Mirman liable up to $2,000,000 under Limited Guarantee; company demanded payment.
Merger Agreement originally signed Dec 14, 2023; waiver extended deadline to Dec 19, 2024.

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