$ VBHI. Today is just the 8-K for stuff that was done back on April 27th to get the Company debt-Free.
Verde Bio Holdings, Inc. Extinguishes All Its Outstanding Debt 7:00 am ET April 27, 2021
via NewMediaWire -- Verde Bio Holdings, Inc. (OTC: VBHI), a growing oil and gas company, is pleased to announce the full settlement of all its outstanding debt. This includes all convertible debt as well as term loans in a combination of aged, existing debt and strategic new debt which was taken on and utilized to clean up the Company after new management took over in late November 2019.
The payoff of these debts stops any further conversion into common stock and was achieved through early, selective conversions, payoffs, and a settlement agreement with the largest note holder of Verde. As a result of these actions, all claims against the Company have been released.
"As mentioned in our previous press releases, Verde is focused on building a diversified, revenue-producing portfolio of high-quality assets. The settlement of all debt allows the Company to move forward with a strong balance sheet with no debt which provides a much more stable foundation for growth, value creation, and financial flexibility," said Scott Cox, Verde CEO.
"We are excited to be debt-free. The incredibly successful Reg A+ cap raise has allowed us to reach this amazing milestone in just a little over a year. With no debt and a pipeline full of deals, we are poised to grow tremendously over the next few months," Mr. Cox said.
"This greatly improves our cash flow and allows us to apply capital to fund future growth and expansion of the Company's asset base, thus increasing Shareholder value tremendously. I would like to thank all the investors, shareholders, and professionals for their trust and patience to build Verde to this point. Growing pains are never pleasant, but the public is beginning to get a glimpse of Verde's potential as a company. Through our balanced approach of capital raising and acquisitions, we are building a highly diversified portfolio of revenue-producing interests and look forward to continuing to build on these through future strategic acquisitions," Mr. Cox concluded.
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 and development of high-growth mineral rights and select non-operated working interests in premier US basins. Verde currently owns producing mineral, royalty, and overriding royalty interests in the DJ Basin of Colorado and Wyoming, the Haynesville Shale of Louisiana, the Anadarko Basin of Oklahoma, the Delaware and Permian Basin of Texas, and the Marcellus and Utica shales in West Virginia. The Company is focused on providing strong shareholder returns through asset growth generated by our acquisitions of revenue-producing assets.
