Arvana Inc. (OTCPK:AVNI) entered into a Business Purchase Agreement to acquire Down 2 Fish Charters, LLC from LCF Salons, LLC for $0.75 million on November 16, 2022. The Agreement will cause Arvana Inc to acquire Down2Fish as a wholly owned subsidiary in exchange for $50,000, and a promissory note for $700,000 payable 24 months after the closing date. The Agreement contains those representations, warranties, and covenants of Arvana, LCF and Down2Fish that are customary in scope for a transaction of this nature, which include the satisfactory completion of due diligence. The Company and LCF anticipate that the Agreement will close in the first quarter of next year.

Arvana Inc. (OTCPK:AVNI) completed the acquisition of Down 2 Fish Charters, LLC from LCF Salons, LLC on February 3, 2023.