A surge of 41.75% occurred last session as Verde Bio Holdings, Inc. [OTCPink: VBHI] hit a price of $0.02835. There were 178.12M shares traded in Verde Bio stock against 67.64M on a 30-day average.
The VBHI stock value during the last 52-week period ranged from $0.0107 to $0.1155. VBHI stock surged following the purchase of revenue-producing mineral and royalties interests.
VBHI has acquired what?
A growing U.S. Energy Company headquartered in Frisco, Texas, Verde Bio is engaged in the acquisition and management of mineral and royalty interests located within the key oil and gas play areas.
Tuesday, Verde Bio announced that it had closed the acquisition of revenue-producing mineral and royalty rights for $380,952 from a private seller.
- The cash flow from production to which the acquisition is attributable is VBHI’s if it begins on or after March 1, 2021.
- A total of approximately 1280 acres are being acquired by VBHI and are being operated by Vine Energy in Sabine and Red River parishes, Louisiana.
- The Vine business unit is an industry-leading company with operations in the Haynesville Basin on more than 227,000 net effective acres, producing natural gas while still being a pure-play company.
- In North Louisiana, Vine Energy produces approximately one billion cubic feet per day, mostly in DeSoto, Sabine, and Red River parishes.
What VBHI will accomplish?
In order for Verde Bio (VBHI) to seek long-term growth, its dual-focused growth strategy relies mostly on leveraging management’s expertise to acquire strategic and opportunistic partnerships and interests, both of which contribute to its revenue production. In current projections, combined revenue from VBHI’s nine acquisitions is currently estimated at about $30,000. This would be about $360,000 on an annualized basis.