Verde Bio Holdings, Inc. Announces Acquisition of Colorado Mineral and Royalty Interests
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--Acquisition Includes Revenue Producing Interests in the Prolific DJ Basin in Northern Colorado--
FRISCO,TEXAS, March 17, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Verde Bio Holdings, Inc. (OTC: VBHI), a growing oil and gas company, today announced that it has closed on the acquisition of revenue producing mineral and royalty interests held by a private seller for a purchase price of $152,000 in cash. Verde is entitled to the cash flow from production attributable to the acquisition beginning on or after March 1, 2021.
The interest being acquired is located in Weld County, Colorado and is operated by Highpoint Resources. Currently, there are eight oil producing wells across the acreage which produce approximately $3,000 per month in revenue, although that is expected to rise significantly as oil prices increase.. The transaction represents Verde’s second acquisition in the prolific Denver Julesberg Basin.
Scott Cox, CEO of Verde, said, “We are excited about the interests being acquired through this acquisition, which is our fourth acquisition. We are extremely proud to have built a Company which is creative and flexible enough to take advantage of these deals which require an accelerated timeline for closing. We have great confidence in these assets, as well as the DJ Basin as a whole, and we look forward to jointly benefiting as they continue to operate and develop the resource as oil prices begin to climb.”
“Deals like this continue to confirm our business plan of acquiring diversified minerals and royalties and building a 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 begun to build 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 management 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 2019 Annual Report on Form 10-K and quarterly reports on Form 10-Q.
Paul Knopick E & E Communications
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