Verde Resources Files 8-K on Agreements and Equity Sales

TL;DR

Verde Resources (VRDR) filed an 8-K detailing material agreements and equity sales.

AI Summary

Verde Resources, Inc. filed an 8-K on April 24, 2024, reporting on April 20, 2024, regarding a material definitive agreement and unregistered sales of equity securities. The filing also includes financial statements and exhibits. The company is incorporated in Nevada and its principal executive offices are located in St. Louis, MO.

Why It Matters

This filing provides crucial updates on the company's contractual agreements and equity transactions, which can impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Filings related to material definitive agreements and unregistered equity sales can indicate significant corporate actions that may carry inherent risks.

Key Numbers

• 000-55276 — SEC File Number (Associated with Verde Resources, Inc.)

Key Players & Entities

• Verde Resources, Inc. (company) — Registrant
• 0001640334-24-000698 (document_id) — Accession Number
• April 20, 2024 (date) — Date of earliest event reported
• April 24, 2024 (date) — Filing Date
• Nevada (jurisdiction) — State of incorporation
• St. Louis, MO (location) — Principal executive offices

FAQ

Key Financial Figures

• $0.001 — ny's restricted common stock, par value $0.001 per share (the "Common Stock") in three

Filing Documents

• vrdr_8k.htm (8-K) — 21KB
• vrdr_ex101.htm (EX-10.1) — 4KB
• vrdr_ex101img5.jpg (GRAPHIC) — 210KB
• vrdr_ex101img6.jpg (GRAPHIC) — 156KB
• vrdr_ex101img1.jpg (GRAPHIC) — 191KB
• vrdr_ex101img2.jpg (GRAPHIC) — 208KB
• vrdr_ex101img3.jpg (GRAPHIC) — 152KB
• vrdr_ex101img4.jpg (GRAPHIC) — 191KB
• 0001640334-24-000698.txt ( ) — 1662KB
• vrdr-20240420.xsd (EX-101.SCH) — 6KB
• vrdr-20240420_lab.xml (EX-101.LAB) — 13KB
• vrdr-20240420_cal.xml (EX-101.CAL) — 1KB
• vrdr-20240420_pre.xml (EX-101.PRE) — 8KB
• vrdr-20240420_def.xml (EX-101.DEF) — 2KB
• vrdr_8k_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On April 20, 2024, Verde Resources, Inc. (the "Company") entered into two Services Agreements (the "Agreements") with Dr. Nam Tran and Dr. Raymond Powell to engage them as National Implementation Experts for its wholly-owned subsidiary Verde Renewables, Inc. ("VRI"), a company incorporated in the State of Missouri, U.S.A., to initiate connections with esteemed asphalt contractors, identify potential partners, explore potential collaborations through their extensive networks in the asphalt industry and recommend strategies to capitalize on emerging opportunities as designated in the Agreements. Under the Agreements, the Company will pay Dr. Nam Tran and Dr. Raymond Powell each by the issuance of 3,000,000 shares of the Company's restricted common stock, par value $0.001 per share (the "Common Stock") in three tranches of 1,000,000 shares each on or before July 31, 2024, October 31, 2025 and October 31, 2026 respectively. The term of the Agreements will remain effective until April 30, 2027 and both parties may renew the agreement or enter into a new agreement as may be mutually agreed on terms to be separately negotiated.

02 Unregistered Sales of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities Pursuant to the terms of the Services Agreements described in item 1.01 above, the Company will issue a total of 6,000,000 shares of the Company's restricted common stock. The shares were not registered in reliance on exemption from registration contained in Section 4(2) of the Securities Act of 1933, as amended (the "Securities Act") and Rule 506(b). The Company's reliance on Section 4(2) of the Securities Act was based upon the following factors: (a) the issuance of the securities was an isolated private transaction by us which did not involve a public offering; (b) there were only a limited number of offerees; (c) there were no subsequent or conterminous public offerings of the securities by the Company; and (d) the negotiations for the sale of the stock took place directly between the offeree and the Company. No underwriters or agents were used in this transaction and no commissions or finder's fees were paid.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits The Services Agreements are attached hereto as Exhibit 10.1. 10.1 Services Agreements entered into by Verde Resources, Inc. with Dr. Nam Tran and Dr. Raymond Powell 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VERDE RESOURCES, INC. /s/ Jack Wong Jack Wong Chief Executive Officer Date: April 24 , 20 24 3

View Full Filing

View this 8-K filing on SEC EDGAR