VERDE BIO HOLDINGS, INC. (APHD): M&A transaction — Verde Bio Holdings divests 55% interest in 3 non-core properties for $398,750 cash

VERDE BIO HOLDINGS, INC.

Sold 55% of mineral/royalty interests in 3 non-core oil & gas properties to a private buyer.
Transaction closed June 23, 2023; effective date June 1, 2023; purchase price $398,750 cash.
Proceeds to be reinvested into higher-performing assets with upside potential from new drilling.
CEO highlights opportunistic monetization of low-cost assets during high commodity price environment.

item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

VERDE BIO HOLDINGS, INC. completed a disposition involving private buyer for $398,750 in cash (closed 2023-06-23).

Action: disposition
Counterparty: private buyer
Consideration: $398,750 in cash
Closing: 2023-06-23

Exact text from the filing

On June 27, 2023, Verde Bio Holdings, Inc. (the "Company") announced that it had closed on a transaction of certain mineral and royalty interests ("Acquisition") with a private buyer whereby the Company divested 55% of certain mineral and oil and gas royalty interests for $398,750 in cash, ("Purchase Price").

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Source: SEC EDGAR

accession 0001096906-23-001354

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