Verde Bio and SensaSure Technologies Complete Merger to Create Premier Mineral Acquisitions Company

The combined company will focus on the acquisition and management of oil and gas of minerals and royalties

Combined company renamed Formation Minerals, Inc. and will be led by Mr. Scott Cox as President and Chief Executive Officer

Transaction expected to deliver sustainable, long-term value to stockholders

JACKSBORO, TX., May 13, 2024 (GLOBE NEWSWIRE) -- SensaSure Technologies Inc. (OTCQB: SSTC) (“SensaSure”) and Verde Bio Holdings, Inc. (OTC: VBHI) (“Verde” or the “Company”), 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 (the “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.”