Formation Minerals, Inc. announced that its merger of the company and wholly owned subsidiary of SSTC (Merger Sub), with and into Verde Bio Holdings, Inc. (?Verde?), with Verde surviving as a direct, wholly owned subsidiary of SSTC, and the surviving corporation of the merger, pursuant to that certain Agreement and Plan of Merger, dated as of December 11, 2023 and amended as of February 8, 2024 (Merger Agreement), by and among, Verde and Merger Sub, was consummated and became effective May 9, 2024 (Effective Time) pursuant to Articles of Merger filed with the Nevada Secretary of State. In accordance with the terms of the Merger Agreement, effective as of the Effective Time, James D. Hiza, President and the sole member of the board of directors (the ?Board?) of the Company, resigned from those positions and appointed Scott A. Cox to serve as the sole director of the Board, to hold office until the next annual meeting of stockholders of the Company at which directors are being elected or as set forth in Amended and Restated Bylaws and as the President, Chief Executive Officer, Chief Financial Officer, Treasurer and Secretary of the Company, to serve until the next annual meeting of the Board or until his successor is duly elected and qualified, or until his earlier death, resignation or removal. Mr. Hiza?s departure was not due to any disagreement with regarding any matter related to operations, policies or practices.

Scott A. Cox, age 51, served as Chief Executive Officer and sole director of Verde from November 20, 2019 until the Effective Time. Mr. Cox served as the President and Chief Operating Officer of NewBridge Global Ventures, Inc. (OTC: NBGV) from October 2017 to September 2018, where he led a transition into the legal cannabis space and the successful merger with a family owned consortium of companies. Mr. Cox has previously served in various private and public companies in oil and gas and other sectors and in a number of entrepreneurial ventures.

Mr. Cox attended Eastern New Mexico University where he studied Business Administration. The company believes that Mr. Cox is qualified to serve as a director of SSTC because of his over 25 years of experience in the management and operations of public and private companies.