Verde Bio Holdings, Inc. (OTC:VBHI) closed higher by 207.14 percent on Thursday, closing at $0.0430, and it has traded in the range of $0.0140 to $0.0880 during the session with 156.94 million shares changed hands.
How’s VBHI stock performing?
Volume for VBHI stock over the month averaged 12.61M shares, with its price soaring more than 42.86% over the time. Looking at the performance for the last three months, the average volume for VBHI shares was 4.78M, with a gain of 17.49%. The past 12 months have been difficult on the VBHI stock; the price dropped -55.44%, peaking at $0.1155 at a market cap of $2.52 billion.
An overview of the company:
Located in Frisco, Texas, Verde Bio is one of the United States’ fastest growing oil and gas companies. This company acquires and manages low-risk Mineral and Royalty interests in the most promising areas throughout the United States. In order to grow the Company’s revenue stream through royalty interest and non-operated working interests, the Company’s dual-focused growth strategy relies primarily on leveraging managerial expertise.
Where does the surge come from?
The recent surge bring gain to a total of 235% attained over the past week, began after news of closing on revenue-producing overriding royalty interests (ORRI) purchase deal, announced by the company on Tuesday.
- An agreement was reached between Verde Bio and a private seller on a purchase price of $150,000 for ORRI held by that seller.
- At present, Verde receives about $3,000 per month in revenue from the interest it acquired.
- From March 1, 2021 onwards, Verde will also be able to collect amounts assigned to the purchase.
- About 1,280 acres of net surface are covered by the acreage, which is operated by Providence Energy Corporation in Adams County, Colorado.
- Royalties are applicable to acreage’s existing production from seven wells and future development.
- Verde has made its first acquisition in the DJ Basin with this transaction.
A final thought:
Taking the deal illustrates a commitment of Verde Bio (VBHI) to maximize shareholder value by fulfilling its business plan. VBHI has begun to build a highly diversified portfolio of revenue producing interests through its balanced approach of capital raising and acquisitions that will surely be paying off.