Verde Bio Holdings Inc (OTCMKTS:VBHI) stock is moving up slightly in the opening session on Monday, extending its monthly gain to 40%.
Major Trigger:
Verde Bio Holdings, Inc. Announces Major Acquisition of Mineral and Royalty Interests
Key Highlights:
- VBHI announced that it has closed on a major Haynesville Shale deal for $800,000 in cash. Verde is entitled to the cash flow from production attributable to the acquisition as of June 1, 2021.
- Verde has now closed a total of 16 mineral and royalty deals including the acquisition announced in this press release. Verde has revenue producing holdings in 18 counties in eight states. The current portfolio consists of 55% oil and 45% natural gas.
- Current expected combined revenue from the 16 acquisitions is approximately $94,000 per month or more than $1,128,000 on an annualized basis once Verde is in pay status on all wells.
- The interest being acquired is located in Bienville Parish, Louisiana and is operated by Texas based Aethon Energy Management. Aethon is a leading Haynesville natural gas company which is currently running multiple rigs in the area.
Market Reactions
As of 10:23, VBHI stock jumped by 4% at $0.0142. Total volume so far stood at 17.02 million shares, compared to its average volume of 65.58 million shares. The stock moved within a range of $0.0140 – 0.0155 after opening at $0.0142.
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