Arvana Inc. (OTCPK:AVNI) entered into letter of intent to acquire Assets of the Luxcor Gold (Alberta) Limited Partnership on June 28, 2023. The LOI anticipates that the purchase price will be paid in shares of Arvana?s restricted common valued at $0.50 a share, a net revenue split on receipts from gold production, and Arvana?s commitment to fund working capital of $3 million for operations with additional funds to be provided as necessary. The LOI is non-binding and subject to the mutual satisfaction of customary due diligence in advance of finalizing the terms of a definitive agreement.