Verde Bio Completes Strategic Merger to Optimize Mineral Acquisitions; Shares Climb in Morning Trading

Oil and gas company, Verde Bio (OTC: VBHI) has successfully completed a strategic merger with SensaSure Technologies Inc. (OTCQB: SSTC) to create a premier oil and mineral acquisitions company, Formation Minerals, Inc. Scott A. Cox has been appointed as President and Chief Executive Officer of the new entity. Verde Bio’s shares rose 11.11% in morning trading on Monday following the news.

Commenting on the news, Scott Cox said, “I am delighted to announce the closing of Verde Bio’s merger with SensaSure and look forward to capitalizing on the strengths of both companies as we execute on our business plan. Low commodity prices have created a compelling opportunity for the combined company to expand our portfolio, strengthen our market position, and capitalize on long-term growth prospects. Additionally, we expect to pursue strategic funding opportunities, including a possible uplisting to a national securities exchange, to maximize stockholder value.”

James Hiza, President of SensaSure Technologies, stated, “We are pleased and excited to announce the closing of this strategic transaction, which we expect to deliver sustainable, long-term value to stockholders of both companies.”

Highlights

The combined company will continue to trade on the OTCQB under the symbol “FOMI”.

Following the closing of the Merger, Verde was merged with and into SensaSure and SensaSure changed its name to “Formation Minerals, Inc.”

Holders of shares of Verde Bio stock will receive shares of SensaSure stock pursuant to the exchange ratio set forth in the Merger Agreement.

About SensaSure Technologies, Inc.
SensaSure Technologies, Inc. (OTCQB: SSTC) was a medical technology or “MedTech” company that supplied a simple device and method to collect a breath sample for lab-based analysis. Subsequent to the six months ended October 31, 2023, management of SensaSure has been in the process of establishing a new business segment to develop energy related businesses which led to the entry into the Merger transaction.

About Verde Bio Holdings, Inc.
Verde Bio Holdings, Inc. (OTC: VBHI) is an oil and gas company engaged in the acquisition and management of mineral and royalty interests in lower risk, onshore oil and gas properties within the major oil and gas plays in the U.S. The Company’s dual-focused growth strategy relies primarily on leveraging management’s expertise to grow through the strategic acquisition of revenue producing royalty interest and strategic and opportunistic non-operated working interests.

 

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Verde Bio Completes Strategic Merger to Optimize Mineral Acquisitions; Shares Climb in Morning Trading

Catie Corcoran

Biotech Editor