Fiorentina Minerals Inc. (CNSX:FLO) agreed to acquire 25% stake in Gold Basin project from Greenvale Energy Limited (ASX:GRV) for AUD2.3 million on August 10, 2020. Consideration comprises of cash of AUD1 million and issuance of 2.5 million common shares of Fiorentina Minerals Inc. subject to a 4-month escrow period. As a result of acquisition, Fiorentina Minerals will get 100% ownership in the project. Unconditional agreement was signed on September 1, 2020. Julian Gosse has also tendered his resignation from the Board effective the date of transaction announcement. Completion of the transaction remains subject to the receipt of funds and completion of other associated documentation. The transaction has been approved by Board of Greenvale Energy Limited. As of September 1, 2020, completion is scheduled to take place on September 4, 2020.

Fiorentina Minerals Inc. (CNSX:FLO) completed the acquisition of 25% stake in Gold Basin project from Greenvale Energy Limited (ASX:GRV) on September 4, 2020. As part of the board restructure announced today, Neil Biddle has been appointed as Interim Executive Director to the Board of Greenvale. Tony Leibowitz has been appointed as Chairman to the Board of Greenvale. The Company also proposes to recruit a full-time Chief Executive Officer in order to progress and unlock value from its Georgina Basin and Alpha Resources projects. Leo Khouri will step down as Chairman but will remain on the board as a non-executive Director and Mr. Vince Fayad will remain responsible for Company Secretary and accounting matters of the Company. Mr Stephen Gemell has resigned as a Director of the Company. The composition of the Board is now:- a) Tony Leibowitz – Chairman; b) Neil Biddle – Interim Executive Director; c) Leo Khouri – Non Executive Director & d) Vince Fayad – Company Secretary and Director.