Arvana Inc. entered into a Business Purchase Agreement to acquire Down 2 Fish Charters, LLC from LCF Salons, LLC for $0.75 million.

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.