Verde Bio acquires Permian Basin mineral interests for $325k; adds $5.5k monthly revenue

VERDE BIO HOLDINGS, INC.

Acquired mineral/royalty interests in Howard County, TX, operated by Ovintiv (f/k/a Encana).
Purchase price of $325,000 in cash; closed on February 9, 2022 with effective date Dec 1, 2021.
Interests currently produce ~$5,500 per month; Verde entitled to cash flow from Jan 1, 2022.
CEO says deal highlights business plan of building diversified revenue-producing portfolio.
Ovintiv has three rigs running in the area; focuses on Spraberry and Wolfcamp formations.

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