Thursday, September 17, 2026

Velvet Energy and Iron Bridge Resources Agree to Terms of Friendly Transaction

All Iron Bridge Directors & Officers and Certain Shareholders Commit to Tender 35% of the Total Common Shares Outstanding Velvet Energy and Iron Bridge agree to friendly transaction with unanimous Iron Bridge Board support, wherein Velvet has increased its cash consideration by 13% from $0.75 to $0.845 per Iron Bridge common share Including the assumption of net debt of $9.0 million