---
schema_version: "secwatch.filing_event.v1"
accession: "0001640334-23-000254"
form_type: "8-K"
ticker: "VRDR"
cik: "0001506929"
company_name: "VERDE RESOURCES, INC."
filed_at: "2023-02-24T23:59:59+00:00"
generated_at: "2026-06-19T00:40:27.281185+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Verde Resources completes acquisition of biofraction plant assets and licensed IP from Borneo Energy for 166.7M shares

## Summary
- 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).

## SEC filing metadata
- accession: 0001640334-23-000254
- form_type: 8-K
- ticker: VRDR
- cik: 0001506929
- company_name: VERDE RESOURCES, INC.
- filed_at: 2023-02-24T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1506929/000164033423000254/0001640334-23-000254-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1506929/000164033423000254/vrdr_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001640334-23-000254
- JSON: https://secwatch.observer/filing/0001640334-23-000254.json
- Plain text: https://secwatch.observer/filing/0001640334-23-000254.txt

## Key facts
- M&A Transactions
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1506929/000164033423000254/0001640334-23-000254-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.