(MENAFN- GlobeNewsWire - Nasdaq) FRISCO, Tex., Oct. 14, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Verde Bio Holdings, an oil and gas Company with revenue producing royalty interests in more than 300 wells across the most active areas of the United States, today announced it has been awarded“Penny Stock Exempt” status on in accordance with rules established by the U.S. Securities and Exchange Commission.
This means shares of VBHI common stock are no longer subject to limitations associated with“penny stocks” (stocks selling for less than $5.) National broker/dealers can now recommend Verde Bio to their clients, which previously was not allowed, increasing significantly the pool of potential investors. Also selling a“penny stock” involved so much paperwork that it was the rare brokerage, if any, that would sell a“penny stock.” That now also changes for VBHI.
Verde Bio was granted this distinction because of the data provided in its detailed in its recent 10K filing.
Included in the new regulations which went into effect on 9/28/2021, the OTC Market stopped displaying the flag announcing Penny Stock Exempt status on OTC Pink profile pages. However, once Verde Bio completes its uplisting to the OTCQB, the flag will be shown on Verde's profile, according to the OTC.
“This is a significant achievement for both the Company and its investors and we are delighted to report this news. This was one of the major goals we set in our business plan and is another example of us executing on that plan and delivering value to our shareholders,” said Scott Cox, CEO.
About Verde Bio Holdings, Inc. Verde Bio Holdings, Inc. (OTC: VBHI) is a growing U.S. Energy Company based in Frisco, Texas, 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.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Statements in this press release that are not strictly historical are“forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include the uncertainty regarding viability and market acceptance of the Company's products and services, the ability to complete software development plans in a timely manner, changes in relationships with third parties, product mix sold by the Company and other factors described in the Company's most recent periodic filings with the Securities and Exchange Commission, including its 2019 Annual Report on Form 10-K and quarterly reports on Form 10-Q.
Paul Knopick E & E Communications
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