Verde Bio terminates LOI for biodiesel facility acquisition; cites debt and capital concerns

VERDE BIO HOLDINGS, INC.

Terminated Letter of Intent dated Dec 14, 2021 to purchase biodiesel production facilities from Good Steward Biofuels and Wilson Real Estate & Assets.
CEO Scott Cox cited inability to get comfortable with debt levels, capital needs, and revenue timeline as reasons for termination.
Company remains focused on acquiring oil and gas royalty interests and pursuing alternative energy investments.
Termination effective March 7, 2022; press release issued March 10, 2022.

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