SensaSure Technologies Inc. (SensaSure), formerly a medical technology company involved in breath sample analyses, and Verde Bio Holdings, Inc. (Verde), an energy company focusing on the acquisition of oil and gas minerals and royalties, have successfully completed their merger, forming Formation Minerals, Inc. The merger was structured through a wholly owned subsidiary of SensaSure and saw the integration of Verde, culminating in a single combined entity listed as Formation Minerals, Inc., trading under the symbol FOMI. The leadership baton has been passed to Scott Cox, who will operate as President and CEO of the newly created company. This transaction aims to consolidate the strengths of both companies to better exploit the market’s opportunities presented by current low commodity prices, improving their position and growth prospects. Formation Minerals intends to pursue strategic funding opportunities, potentially leading to an uplisting on a national securities exchange, to enhance stockholder returns. James Hiza of SensaSure expressed optimism, highlighting the suitability of Verde’s business plans and the qualifications of its management team, emphasizing the anticipated creation of stockholder value under Cox’s leadership. While the press release is forward-looking and optimistic, it also acknowledges that the transaction is subject to the risks inherent in the integration of two different companies, changes in competitive landscapes, and further legal and financial requirements. The prospective developments post the Merger must be cautiously evaluated against the backdrop of regulatory disclosures, stockholder sentiments, and market positions of the respective companies, as well as broader economic conditions influencing the energy sector.

Oil & Gas Acquisitions, Medical Technology, Mineral Rights and Asset Management,USA

https://www.globenewswire.com/news-release/2024/05/13/2880359/0/en/Verde-Bio-and-SensaSure-Technologies-Complete-Merger-to-Create-Premier-Mineral-Acquisitions-Company.html