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?
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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.