Verde Resources, Inc. Files 8-K with Material Agreement
Ticker: VRDR · Form: 8-K · Filed: Oct 23, 2024 · CIK: 1506929
| Field | Detail |
|---|---|
| Company | Verde Resources, Inc. (VRDR) |
| Form Type | 8-K |
| Filed Date | Oct 23, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, filing
Related Tickers: VRDR
TL;DR
Verde Resources (VRDR) filed an 8-K on 10/18 for a material agreement. Watch for details.
AI Summary
Verde Resources, Inc. entered into a Material Definitive Agreement on October 18, 2024. The filing also includes financial statements and exhibits. The company is incorporated in Nevada and its principal executive offices are located in St. Louis, Missouri.
Why It Matters
This 8-K filing indicates a significant development for Verde Resources, Inc., potentially impacting its operations and financial standing.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities, requiring further analysis of the agreement's terms.
Key Players & Entities
- Verde Resources, Inc. (company) — Registrant
- October 18, 2024 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
- St. Louis, Missouri (location) — Address of principal executive offices
- 314-530-9071 (phone_number) — Registrant's telephone number
FAQ
What type of Material Definitive Agreement did Verde Resources, Inc. enter into?
The filing states that Verde Resources, Inc. entered into a Material Definitive Agreement on October 18, 2024, but the specific details of the agreement are not provided in this summary.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on October 18, 2024.
Where is Verde Resources, Inc. incorporated?
Verde Resources, Inc. is incorporated in Nevada.
What is the business address of Verde Resources, Inc.?
The business address of Verde Resources, Inc. is 8112 Maryland Ave, Suite 400, St. Louis, Missouri 63105.
What is the SIC code for Verde Resources, Inc.?
The Standard Industrial Classification (SIC) code for Verde Resources, Inc. is 1040, which corresponds to Gold & Silver Ores.
Filing Stats: 809 words · 3 min read · ~3 pages · Grade level 12.8 · Accepted 2024-10-23 06:07:40
Filing Documents
- vrdr_8k.htm (8-K) — 22KB
- vrdr_ex101.htm (EX-10.1) — 2KB
- vrdr_ex101img1.jpg (GRAPHIC) — 153KB
- vrdr_ex101img2.jpg (GRAPHIC) — 175KB
- vrdr_ex101img3.jpg (GRAPHIC) — 74KB
- 0001640334-24-001559.txt ( ) — 691KB
- vrdr-20241018.xsd (EX-101.SCH) — 6KB
- vrdr-20241018_lab.xml (EX-101.LAB) — 13KB
- vrdr-20241018_cal.xml (EX-101.CAL) — 1KB
- vrdr-20241018_pre.xml (EX-101.PRE) — 8KB
- vrdr-20241018_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 October 18, 2024, the Company entered into a binding Term Sheet with C-Twelve Pty Ltd ("C-Twelve"), a corporation incorporated in Western Australia, granting the Company (i) an exclusive license to utilize its proprietary binder and biochar asphalt mixed designs (the "Licensed Technology") for the production and commercialization of asphalt surfacing-related products (the "End Products") within the United States of America and (ii) the first right of refusal to extend the exclusive licensing of the Licensed Technology to other countries and territories subject to terms and conditions to be mutually agreed upon. The Company shall commit to producing a minimum quantity of End Products each year, as defined in the definitive agreement (the "Minimum Production Amount"). The specific Minimum Production Amount will be stipulated in an appendix or exhibit to the final licensing agreement. The Company shall pay C-Twelve royalties based on the Minimum Production Amount, at a rate mutually agreed upon by both parties and specified in the definitive agreement. Should the Company fail to meet the Minimum Production Amount in any given year, it shall remain obligated to pay royalties based on the agreed-upon minimum production levels. In the event that production exceeds the Minimum Production Amount, additional royalties shall be payable for the excess production, calculated at the same royalty rate or as otherwise mutually agreed in the definitive agreement. Both parties will mutually agree on a Carbon Credit percentage allowance for C-Twelve. C-Twelve shall grant the Company the right to file, prosecute, and maintain United States patent applications incorporating C-Twelve's Intellectual Property (IP), subject to C-Twelve's final review and approval before submission. All such patents will be filed and maintained under the Verde brand name. The Company shall reserve the right to market and sell End Products under its
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits The Term Sheet between Verde Resources, Inc. and C-Twelve Pty Ltd is attached hereto as Exhibit 10.1. 10.1 Term Sheet between Verde Resources, Inc. and C-Twelve Pty Ltd. 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: October 23, 2024 3