Arvana Acquires Pintocity Inc.
Rhea-AI Summary
Arvana Inc. (OTC PINK:AVNI) has signed a Memorandum of Understanding to acquire 100% of PintoCity Inc., a Nevada-based private company specializing in real estate. PintoCity's business focuses on acquiring and managing vacant shopping centers and big box stores across the United States, with plans to transform them into entertainment and themed centers. The acquisition's purchase price will be determined based on future performance metrics, with provisions for repayment to PintoCity's principals for advanced funds.
Positive
- Performance-based acquisition structure minimizes upfront capital requirements
- Entry into specialty real estate market with focus on property repurposing
- Potential revenue generation from entertainment and themed centers
Negative
- Purchase price uncertainty due to performance-based structure
- Obligation to repay PintoCity principals for advanced funds
- Execution risk in converting vacant properties to profitable entertainment centers
News Market Reaction 1 Alert
On the day this news was published, AVNI gained 13.70%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
LAS VEGAS, NV / ACCESSWIRE / December 12, 2024 / Arvana Inc. (OTC PINK:AVNI) is pleased to announce that it has entered into a Memorandum of Understanding to purchase
PintoCity is a private company in the specialty real estate business. PintoCity's business model is to acquire and manage vacant shopping centers and big box stores throughout the United States. Properties are to be repurposed to entertainment and themed centers with a revenue generating strategy in place.
The purchase price is to be based on future performance only with full repayment to the principals of PintoCity for funds advanced.
About Arvana Inc.
Arvana (OTC: AVNI) is a public company registered under the Securities & Exchange Act of 1934, as amended, that is quoted on the OTC Pink Sheets Current Ifnormation Alternative Reporting platform. www.OTCmarkets.com
Additional Information:
Arvana Contact
James Kim, Chief Executive Officer
Phone: +1 702 899 1072
Email: james@arvana.us
Website: https://arvana.us
PintoCity Contact
Brian Lovig, Chief Executive Officer
Phone: +1 725 291 8055
Email: brian@pintocity.com
Website: https://pintocity.com
Forward-Looking Statements
Several statements contained in this press release are forward-looking statements of future expectations based on currently available information that are subject to risks and uncertainties including general economic conditions, changes in capital markets, regulator legislation, and other circumstances that may cause actual results to be materially different from those expectations Arvana does not make any representation or warranty, express or implied, as to the accuracy, completeness, or status of such statements so it will not be liable for any decision made or action taken in conjunction with the information and/or statements contained in this press release. Arvana encourages the public to read the information provided in conjunction with its recent filings on Form 8-K, Form 10-Q and Form 10-K, which may be viewed at www.sec.gov.
SOURCE: Arvana, Inc.
View the original press release on accesswire.com
FAQ
What are the terms of Arvana's acquisition of PintoCity announced on December 12, 2024?
What is PintoCity's business model that AVNI is acquiring?
How will the purchase price be determined for AVNI's acquisition of PintoCity?
What market segment will AVNI enter through the PintoCity acquisition?
