How Far Will It Go? Verde Bio Holdings Inc (OTCMKTS:VBHI) Closes Offering

Verde Bio Holdings Inc (OTCMKTS:VBHI)  is making a nice jumped in early trade Thursday on unusual volume.

Market Reaction:

As of 10.58, Verde Bio Holdings, Inc. stock moved up 20% to $0.0162 with more than 58.24 million shares, compared to  its average volume of 64.31 million shares. The stock has moved within a range of $0.0135 – 0.0165 after opening the trade at $0.0138.

Major Trigger:

Verde Bio Holdings, Inc. Announces Closing of $10 Million Reg A Offering

Key Highlights:

  • announced the closing of its $10 million offering under Regulation A-Tier 2.
  • Utilizing the gross proceeds from the offering, the Company has built and will continue to build a diversified, revenue producing portfolio of high-quality assets.
  • To date, Verde has acquired 15 properties. The current expected combined revenue from the acquisitions is approximately $82,000 per month or approximately $984,000 on an annualized basis once Verde is in pay status on all properties. Further, the Company is currently evaluating numerous additional revenue producing acquisitions across multiple basins.

Key Quote:

“We are very pleased with the strong support from the financial community for Verde’s vision and the representative growth opportunities for our unique business model,” stated Scott Cox, Chief Executive Officer.  “In addition to strengthening Verde’s overall financial position through debt retirement, completion of this funding enables us to continue to aggressively pursue deals in the current low-priced markets and capitalize on opportunities we are pursuing.”

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