Acquisition of Greenvale Energy shareholding

Astute Metals NL (ASX: $ASE) has announced the acquisition of the entire shareholding held by Greenvale Energy Limited (ASX: $GRV). The investor syndicate, led by Astute Chairman Mr Tony Leibowitz, has acquired 51 million fully-paid ordinary shares, including 23 million shares previously subject to a voluntary escrow arrangement. This acquisition follows the completion of the Company's acquisition of an 80% interest in the Georgina Basin IOCG Project from Greenvale.

Chairman's perspective on the acquisition

Chairman Tony Leibowitz expressed his delight in increasing his interest in Astute by purchasing the majority of the Greenvale shareholding. He emphasized his strong belief in the assets and management of the Company and the long-term value they have been building. Mr Leibowitz looks forward to building on the existing foundation and realizing long-term value for all shareholders.

Summary of the acquisition and outlook

Astute Metals NL (ASX: $ASE) has successfully acquired the entire shareholding held by Greenvale Energy Limited, with an investor syndicate led by Astute Chairman Mr Tony Leibowitz. The acquisition includes 51 million fully-paid ordinary shares, with 23 million shares previously subject to a voluntary escrow arrangement. The release of the Escrowed Shares is expected to improve overall liquidity in the Astute share register and support future capital raising initiatives. Mr Leibowitz's increased interest as a substantial shareholder reflects confidence in the Company's assets and management. The Company aims to continue building long-term value for all shareholders.