---
schema_version: "secwatch.filing_event.v1"
accession: "0001640334-23-000369"
form_type: "8-K"
ticker: "VRDR"
cik: "0001506929"
company_name: "VERDE RESOURCES, INC."
filed_at: "2023-03-16T23:59:59+00:00"
generated_at: "2026-06-18T00:27:16.445061+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Verde Resources subsidiary settles $675,888 debt via cash or restricted shares at $0.07/share

## Summary
- Indirect subsidiary Champmark Sdn Bhd entered a Settlement of Debts Agreement with creditor Borneo Oil Corp Sdn Bhd.
- Total debt of $675,888 can be settled in cash or by issuing restricted shares at $0.07 per share.
- Shares, if issued, will be restricted and delivered to the creditor or its nominee.
- Promissory note term is two years; settlement must be completed within that period.

## SEC filing metadata
- accession: 0001640334-23-000369
- form_type: 8-K
- ticker: VRDR
- cik: 0001506929
- company_name: VERDE RESOURCES, INC.
- filed_at: 2023-03-16T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1506929/000164033423000369/0001640334-23-000369-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1506929/000164033423000369/vrdr_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001640334-23-000369
- JSON: https://secwatch.observer/filing/0001640334-23-000369.json
- Plain text: https://secwatch.observer/filing/0001640334-23-000369.txt

## Key facts
- Material Agreements
  VERDE RESOURCES, INC. entered into Settlement of Debts Agreement with Borneo Oil Corporation Sdn Bhd valued at USD 675,888 (effective 2023-03-13).
  - Action: entry
  - Agreement: settlement
  - Counterparty: Borneo Oil Corporation Sdn Bhd
  - Value: USD 675,888
  - Effective: 2023-03-13
  source text: entered into a Settlement of Debts Agreement (the “SDA Agreement”) and a two year term period Promissory Note with CSM’s creditor Borneo Oil Corporation Sdn Bhd (the “Creditor”) to settle in full a total of USD 675,888 of CSM’s account payable to the Creditor either in cash or by the issuance of new restricted shares of the Company’s common stock at a price of $0.07 per share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1506929/000164033423000369/0001640334-23-000369-index.htm

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