Verde Bio Holdings cancels planned purchase of two biodiesel facilities

In Texas, Verde Bio Holdings, Inc. terminated the agreement to purchase the two biodiesel facilities, which the company first announced in December 2021.

“Verde maintains a highly disciplined approach to the assessment of potential acquisition candidates. While we were excited by the potential of this transaction to move the Company into the renewable energy space and to create significant stockholder value, we could not get comfortable with the level of debt, short and long-term, capital needs, and time it would take to generate revenue. Towards that end, we have decided that terminating this previously announced transaction is prudent for the Company and our shareholders. While we are growth focused through opportunistic acquisitions such as this, we take debt and the issuance of significant numbers of shares very seriously,” said Scott Cox, Founder and CEO.