Verde Bio Holdings Inc (fka VBHI)

[MegaDeath]

Verde Bio Holdings, Inc. Closes Acquisition of Mineral and Royalty Interests

--Acquisition Includes Revenue Producing Portfolio of Diversified Oil and Gas Assets--

FRISCO, TEXAS, Feb. 02, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Verde Bio Holdings, Inc. (OTC: VBHI) today announced that it has closed the previously announced purchase of the revenue producing oil and natural gas mineral and royalty interests for a purchase price of five million common shares of Verde Bio Holdings. Verde is entitled to the cash flow from production attributable to the acquisition beginning on or after October 1, 2020.

Scott Cox, Director and Chief Executive Officer of Verde Bio Holdings, said: "This is an outstanding acquisition and addition to our portfolio of high-quality, revenue producing properties. All the properties have good, long lived, steady oil production which we estimate will continue for quite some time. Deals like this continue to confirm and highlight our business plan of acquiring diversified mineral and royalty assets in the downturn of oil and gas prices.”

“We believe we have acquired the right balance of oil and natural gas in the existing producing wells and future drilling locations as well as high quality operators. We remain focused on executing our business plan and creating long-term value for our shareholders. Through our first two acquisitions, we have successfully laid a great foundation for a highly diversified portfolio of interests and are excited to build on these through future strategic acquisitions.”

Acquisition Highlights:

Brazos County, Texas highlights:

o Oil rich, Eastern Eagleford Mineral Interest in Brazos County, Texas operated by Hawkwood Energy

o 17 wells currently in production across the acquired acreage

Oklahoma highlights:

o Oil rich, Anadarko Basin Mineral Interests in Alfalfa and Grant Counties, Oklahoma, operated by Sandridge.

o 8 wells currently producing across the acquired acreage

Mr. Cox continued: “We are excited about the growth opportunities with this package, both through the drill bit as well as through a rise in commodity prices and optimistic about the future development of these assets for many years to come. With acquisitions such as this, we believe strongly in the future success of Verde Bio Holdings as a leading consolidator in the highly fragmented minerals market."

https://www.otcmarkets.com/stock/VBHI/news/story?e&id=1799846