Frisco, TX – (NewMediaWire) – March 05, 2021 – Verde Bio Holdings, Inc.(OTC: VBHI) is pleased to provide the following corporate update. Over the last several months, the Company has begun to execute on its business strategy by qualifying the sale of its shares pursuant to a Reg A+ offering and raising capital and using that capital to begin accumulating a portfolio of revenue producing oil and gas minerals and royalties through acquisitions by stock, cash or a combination. To date, the Company has made acquisitions of two diverse asset portfolios and is working on closing the acquisition of additional assets, including two portfolios described below .
· Acquisition #1: (Acquired 7/2020) Multi-State portfolio of both oil and natural gas assets. This acquisition includes mineral and royalty interests in prolific areas such as the Permian Basin of Texas, Haynesville Shale of Louisiana, Powder River Basin of Wyoming and Anadarko Basin of Oklahoma with ~300 wells producing. Operators of the properties include Apache, SEM Operating, Indigo Natural Resources and others. Currently, the Company is now in pay status on all properties and receiving monthly revenue. The Company has received new drilling activity notices on multiple properties in this portfolio and expects new wells to be drilled and brought online soon thus increasing the monthly revenues.
· Acquisition #2: (Acquired 1/2021) Multi-State portfolio of both oil and natural gas assets. This acquisition includes mineral and royalty interests in the Eagleford Shale of Texas and the Anadarko Basin of Oklahoma with ~25 wells producing. Operators of the properties include Hawkwood Energy and Sandridge Energy. The Company has completed the acquisition and is in pay status and receiving monthly revenue.
· Acquisition #3: (Under Contract) Haynesville Shale Mineral Interest. This property is located in Desoto and Sabine Parish of Louisiana with six wells producing and is operated by Indigo Natural Resources. This property is a good complement to our other assets in the Haynesville Shale. The Company believes natural gas assets are an important part of a well-balanced portfolio. The Company expects the acquisition to close shortly and to receive first revenues in April.
· Acquisition #4: (Under Contract) Marcellus Shale Mineral Interest. This property is located in Ohio County, West Virginia with three wells currently producing and is operated by Southwestern Energy. This asset is located in a good, active area of the Marcellus Shale and the area has well established infrastructure to move the produced gas and liquids to market. The Company believes strong natural gas producing assets such as this are key to building a well-balanced portfolio. The acquisition is expected to close shortly and that first revenues will be received in April.
Scott Cox, CEO of Verde, states: “Over the last year Verde has built a foundation to take advantage of the amazing acquisition opportunity that has developed over the past six months for our strategy. Guided by our strong management team and deal flow network, we have successfully been able to raise capital and have begun to accumulate a portfolio of revenue producing properties and solid pipeline of deals to acquire for quite some time. Our work to date has identified multiple assets in our target areas and we are now moving towards continuing to raise significant capital through its current Qualified Reg A+ and to deploy the capital, with a goal of acquiring $3-$5 million in deals over the next 12 months. 2021 will be a very exciting year for Verde and we look forward to a strong news flow as we advance and acquire these assets and roll them into our portfolio.”
About Verde Bio Holdings, Inc.
Verde Bio Holdings, Inc. (OTC: VBHI), is a growing U.S. Energy Company based in Frisco, Texas, engaged in the acquisition of Mineral and Royalty interests in lower risk, onshore oil and gas properties within the major oil and gas plays in the U.S. The Company’s dual-focused growth strategy relies primarily on leveraging management’s expertise to grow through the strategic acquisition of revenue producing royalty interest and strategic and opportunistic non-operated working interests.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Statements in this press release that are not strictly historical are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include the uncertainty regarding viability and market acceptance of the Company’s products and services, the ability to complete software development plans in a timely manner, changes in relationships with third parties, product mix sold by the Company and other factors described in the Company’s most recent periodic filings with the Securities and Exchange Commission, including its 2018 Annual Report on Form 10-K and quarterly reports on Form 10-Q.
Paul Knopick E & E Communications