Vivakor, Inc. (NasdaqCM:VIVK) signed a definitive agreement to acquire Silver Fuels Delhi, LLC and White Claw Colorado City, LLC from Jorgan Development, LLC and JBAH, LLC for $37.4 million on June 15, 2022. The consideration is subject to post-closing adjustments and will be paid by Vivakor under the MIPA consists of shares of Vivakor common stock in an amount equal to 19.99% of the total amount of issued and outstanding shares of Vivakor common stock immediately prior to closing, Vivakor promissory notes, and Vivakor's assumption of certain liabilities. In 2021, SF Delhi generated $33 million in revenue and positive operating cash flow. James Ballengee joins the Vivakor team. The acquisitions are anticipated to be completed within thirty days, subject to customary closing conditions. EF Hutton, division of Benchmark Investments, LLC is serving as financial advisor and Joseph Lucosky and Scott Linsky of Lucosky Brookman LLP are serving as legal advisors to Vivakor. Pat Knapp of Jackson Walker LLP is serving as the legal advisor to Jorgan Development and JBAH.

Vivakor, Inc. (NasdaqCM:VIVK) completed the acquisition of Silver Fuels Delhi, LLC and White Claw Colorado City, LLC from Jorgan Development, LLC and JBAH, LLC for $32.96 million on August 1, 2022.