Item 1.01 Entry into a Material Definitive Agreement
On March 13, 2023, Verde Resources, Inc. (the "Company"), through its
wholly-owned subsidiary Verde Resources Asia Pacific Limited ("VRAP") (fka Gold
Billion Global Limited), a company incorporated under the laws of the British
Virgin Islands, entered into a Share Sale Agreement (the "SSA Agreement") with
Jusra Mining Merapoh Sdn Bhd ("JMM"), a company incorporated under the laws of
Malaysia, to sell the entire issued and paid-up share capital of Champmark Sdn
Bhd ("CSB"), an indirect wholly-owned subsidiary of the Company engaged in the
mining business. Under the terms of the SSA Agreement, the consideration for the
sale of the entire issued and paid-up share capital of CSB shall be satisfied in
full by the payment of Malaysia Ringgit MYR 500,000.
The Company has been undergoing a restructuring exercise to shift its focus
towards renewable energy and sustainability development with the world faced
with challenges of climate change and environmental dehydration. The disposition
of the mining business via the sale of the entire issued and paid-up share
capital of CSB is in line with the Company's restructuring effort to focus on
renewable energy and sustainability.
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VERDE RESOURCES, INC. 
