Verde Bio Reports Third Quarter Financial Results; Continues Push Towards Profitability and Growth

Verde Bio Holdings (OTCQB: VHBI) has released its third quarter financial results and provided a corporate update.

To date, the company has made over 18 acquisitions of revenue producing properties and has revenue producing royalty interests in over 400 wells managed by major, well-funded operators.

Highlights

  •  Total reserves were $3.29 million PV-10 value based upon SEC required pricing at $92.01/bbl oil and $6.19/MMBTU/ of natural gas (as of 01/31/2023).
  • Verde recorded a total adjusted revenue of $170,312 for the three-month period.
  • The company is working to finalize an agreement with an investment bank for advisory services regarding a potential up-listing and a follow-on capital raise for acquisition capital.
  • Verde is exploring a potential listing on the NYSE American Exchange in 2023.

Verde Bio has a healthy pipeline of new deal-flow and is evaluating potential acquisitions which complement its portfolio.

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Verde Bio Reports Third Quarter Financial Results; Continues Push Towards Profitability and Growth

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