NOVUSTERRA INC
Exhibit 10.5
This
Carbon Purchase and Sale Agreement (the “Agreement”) is
made as of this 24th day of April 2021, by and between Novusterra
Inc., a Florida corporation (“the “Company”), and
American Resources Corporation (“ARC”) a Carbon making
company, which are made party hereto (ARC and the Company, the
“Parties” and each a “Party”) pursuant a
joint venture agreement the parties signed on 31st day of March 2021
for the Company to make Graphene using Carbon as the major raw
material using technology and patented rights ARC has acquired from
a third party.
NOW, THEREFORE, for and in consideration
of the promises and the mutual covenants hereinafter set forth, and
for other good and valuable consideration, the sufficiency of which
is hereby acknowledged, the Company hereto agree to buy, and ARC
agree to sell Carbon to the Company at a 5% discount to the last
published Platts High Vol A Hard Coking Coal FOB US East Coast
index price based on the time of such purchase to be used as such
raw material for Graphene production.
IN WITNESS WHEREOF, the Parties hereto
have executed this Agreement on the dates set forth
below.
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/s/ I Xxxxxx Xxxxxxxxxx
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/s/ Xxxx Xxxxxx
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Xxxxxx
Xxxxxxxxxx
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Xxxx
Xxxxxx
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Chief
Executive Officer
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Chief
Executive Officer
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American
Resources Corp
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0000
Xxxxxxx Xxx X. 624
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Xxxxxxxxx Xxx
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Xxxxx
Xxxxx Xx 00000
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Xxxxxxx,
XX 00000
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