$ VBHI. (#1) Paid off old Debit Making VBHI Debt-Free
Item 1.01 Entry into Material Definitive Agreement
On April 22, 2021, Verde Bio Holdings, Inc. (the “Company”) announced that it had entered into an agreement for the settlement of various loans provided by GHS Investments, LLC pursuant to various convertible promissory notes (the “Loans”). The Company agreed to pay $715,000 to settle all matters related to the Loans (the “Settlement Amount”).
A form of the Settlement Agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K.
On May 5, 2021, Verde Bio Holdings, Inc. (the “Company”) announced that it had entered into an agreement for marketing and sales consulting services (the “Services”) with Gilbert Steedley, Managing Member of INU, LLC (the “Consultant”) whereby the Consultant agreed to perform the Services in exchange for 3,000,000 shares of restricted common stock, a monthly per diem of 100,000 shares and $4,000, and a success fee of 7,000,000 shares of restricted common stock.
$ VBHI. (#2) Closed the offering
Verde Bio Holdings, Inc. (OTC: VBHI), a growing oil and gas Company, today announced the closing of its $10 million offering under Regulation A-Tier 2.
Utilizing the gross proceeds from the offering, the Company has built and will continue to build a diversified, revenue producing portfolio of high-quality assets. To date, Verde has acquired 15 properties. The 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. Further, the Company is currently evaluating numerous additional revenue producing acquisitions across multiple basins.
"We are very pleased with the strong support from the financial community for Verde's vision and the representative growth opportunities for our unique business model," stated Scott Cox, Chief Executive Officer. "In addition to strengthening Verde's overall financial position through debt retirement, completion of this funding enables us to continue to aggressively pursue deals in the current low-priced markets and capitalize on opportunities we are pursuing."
"The amazing response from investors really confirms the validity of our business plan of acquiring diversified minerals and royalties and building a diversified portfolio while taking advantage of the historic buyer's market in the industry currently. We remain focused on executing our business plan and creating long-term value for our shareholders. Through our balanced approach of capital raising and acquisitions, we have built a foundation for a dynamic Company with significant revenue and assets and look forward to continuing to build on this through future strategic acquisitions," Mr. Cox concluded.
$ VBHI. (#3) Closes on it's 16th Acquisition
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.
