VERDE RESOURCES, INC. (VRDR): M&A transaction — Verde Resources completes acquisition of biofraction plant assets and licensed IP from Borneo Energy for 166.7M shares

VERDE RESOURCES, INC.

Consideration: 166,666,667 shares of restricted common stock at $0.03 per share.
Assets acquired: biofraction plant and Catalytic Biofraction Process IP in Sabah, Malaysia.
S&P Agreement signed May 10, 2021; completion occurred February 24, 2023.
Acquisition made through wholly-owned subsidiary Verde Resources Asia Pacific Limited (VRAP).

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

VERDE RESOURCES, INC. completed an acquisition involving Borneo Energy Sdn Bhd for the issuance of 166,666,667 shares of the Company's restricted common stock at the price per share of $0.03 (closed 2023-02-24).

Action: acquisition
Counterparty: Borneo Energy Sdn Bhd
Consideration: the issuance of 166,666,667 shares of the Company's restricted common stock at the price per share of $0.03
Closing: 2023-02-24

Exact text from the filing

Under the terms of the S&P Agreement, the consideration for the acquisitions shall be satisfied in full by the issuance of 166,666,667 shares of the Company’s restricted common stock at the price per share of $0.03. The acquisition from Borneo Energy the assets of its biofraction plant and the right to use its licensed intellectual property known as “Catalytic Biofraction Process” in the state of Sabah, Malaysia was completed on February 24, 2023.

View on SEC.gov

31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

VERDE RESOURCES, INC. filing history →

Source: SEC EDGAR

accession 0001640334-23-000254

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.