Greenvale Energy's withdrawal of Share Purchase Plan

Greenvale Energy Limited (ASX: $GRV) has announced the withdrawal of its proposed Share Purchase Plan (SPP) due to current uncertain market conditions and the recent decline in the Company's share price. The Board will continue to monitor market conditions to optimize the potential timing of a capital raising, including an SPP, once updated information on the Alpha Project is provided to the market. Additionally, the Board is reviewing potential new acquisition opportunities to complement its existing portfolio.

Chairman's commentary on the decision

The Board has taken the feedback received since its ASX release of 7 June 2024 and remains committed to providing shareholders with the opportunity to invest in the Company in order to enhance the long-term value of their holdings, whilst taking into consideration the challenging market currently facing junior resource companies. The Board remains committed to reviewing its portfolio of assets as well as other opportunities to maximize shareholder value.

Summary of Greenvale Energy's announcement

Greenvale Energy Limited (ASX: $GRV) has decided not to proceed with the Share Purchase Plan (SPP) at the current time due to uncertain market conditions and the recent decline in the Company's share price. The Board will continue to monitor market conditions to optimize the potential timing of a capital raising, including an SPP, once updated information on the Alpha Project is provided to the market. The Company is also reviewing potential new acquisition opportunities to complement its existing portfolio. Chairman Neil Biddle emphasized the Board's commitment to providing shareholders with investment opportunities and maximizing shareholder value amidst the challenging market conditions. Greenvale Energy has also withdrawn its Appendix 3B lodged on 7 June 2024 in respect to the SPP. Shareholders and investors can expect further details to be provided as they become available.