Verde Bio and SensaSure Technologies Complete Merger

JACKSBORO, TX., May 13, 2024 (GLOBE NEWSWIRE) — SensaSure Technologies Inc. (OTCQB: SSTC) and Verde Bio Holdings, Inc. (OTC: VBHI), a growing oil and gas company with a focus on the acquisition and management of oil and gas minerals and royalties, today announced the closing of the previously announced merger of Formation Minerals, Inc., a wholly owned subsidiary of SensaSure, with and into Verde, to create a premier company focused on the acquisition and management of oil and gas minerals and royalties. Holders of shares of Verde stock will receive shares of SensaSure stock pursuant to the exchange ratio set forth in the Merger Agreement. Following the closing of the Merger, Verde was merged with and into SensaSure and SensaSure changed its name to “Formation Minerals, Inc.” and appointed Scott A. Cox as President and Chief Executive Officer. The combined company will continue to trade on the OTCQB under the symbol “FOMI”.

“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,” said Verde Bio’s Chief Executive Officer, Scott Cox. “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. After looking at a long list of suitable companies to merge with, we felt that Verde had the most dynamic and strategic business plan and that Verde’s management was very well qualified to lead SensaSure into its next stage of value creation for our stockholders. I look forward to watching the company grow and mature under Mr. Cox’s leadership.”

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.