- Oil and gas company Verde Bio Holdings ( OTCQB:VBHI ) filed for a 1-for-1500 reverse stock split and name and ticker change.
- The company is changing its corporate name to Verde Energy Holdings and the ticker symbol to VEHI.
- The name change reflects the company's focus on acquiring and managing oil and gas minerals and royalties.
- The reverse split is expected to help the company meet the requirements for trading on a national exchange.
- The split is subject to the approval of the Financial Industry Regulatory Authority.
- The company said it is in the beginning process of due diligence related to uplisting on a national exchange.
- Post the effectiveness of the reverse stock split, VBHI is planning to move forward with a large capital raise.
- Also, the company will be adding at least two board members in the near future.
- Source: Press Release
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Verde Bio Holdings files for 1-for-1500 reverse stock split, name and ticker change