SensaSure Technologies Inc. (OTC:SSTC) Stock on Watchlist After Latest News

Considering the news that emerged pertaining to SensaSure Technologies Inc. (OTC:SSTC) last Friday, it could well be the right time for investors to consider taking a closer look into it. On December 15, it emerged that the oil and gas royalty firm Verde Bio Holdings Inc. had entered into an agreement and a plan of merger with SensaSure Technologies Inc. and its fully owned subsidiary unit Formation Minerals Inc.

As per the terms of the agreement, Verde Bio Holdings would merge into Formation Minerals, and the latter would continue to operate as the surviving entity following the closing of the merger transaction.

The closure of the merger would be subject to the satisfaction of or waiver of a number of conditions. That would also include approval from Verde Bio shareholders. If the merger does go through, then Verde Bio shareholders would receive shares in SensaSure Technologies as per the exchange ratio specified in the merger agreement between the two companies. In the news release, it was also announced that the combined entity would focus on the acquisition of royalties and minerals and continue with the current business plan of Verde Bio.

It ought to be noted that the Board of Directors of both companies had approved the transaction, and it was revealed that it would be closed at some point in the first quarter of 2024. Scott Cox, the Chief Executive Officer and President of Verde Bio, spoke about the development.

He noted that everyone at the company was pleased to have been able to announce the strategic transaction. He stated that the transaction would help in further simplifying the corporate structure of Verde Bio and help in cutting down costs. Additionally, the merger would also help the company in supporting optimization as well as the integration of its existing portfolio.