Verde Bio Holdings Inc (OTCMKTS: VBHI) is moving up in the morning session on Thursday.
Market Action
As of 11:20, VBHI stock went up 16% to $0.0167. Total volume was 59.50 million shares -compared to the average volume of 53.98 million shares. The stock opened at $0.0147 and moved in a range of $0.0147 – 0.0179.
VBHI Release News This Week
Verde Bio Holdings, Inc. Announces Closing of Previously Announced Acquisition of Tri-Shale Portfolio of Mineral and Royalty Interest
- VBHI announced that it has closed on the previously announced portfolio of mineral and royalty interests held by a private seller for a purchase price of $1,100,000 in cash.
- The interests to be acquired by Verde currently produces combined excellent revenues of approximately $24,000 per month and Verde is entitled to the cash flow from production attributable to the acquisition beginning on or after May 1, 2021.
- Verde continues to build a diversified, revenue producing portfolio of high-quality assets. Today’s announcement brings the total number of acquisitions to 15.
- 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.
- Oil rich Mineral Interest in Larimer County, Colorado operated by Petro Operating and Extraction Oil and Gas, which just announced a $2.6 Billion merger with dynamic DJ Basin pureplay operator, Bonanza Creek, to become Colorado’s first Net-Zero Oil and Gas Producer.
Scott Cox, CEO of Verde, said, “We are very excited to get these properties closed and rolled up into our portfolio. This is a great well-balanced portfolio of diversified interests, which adds significant revenue to Verde as well as adding a high level of assets to our balance sheet. We are proud to have built a Company which is creative and flexible enough to take advantage of these significant deals as they come to market,” Mr. Cox added.
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