Vivakor, Inc. (VIVK) Provides Update on the Endeavor Entities Closing

Vivakor, Inc. (NASDAQ: VIVK) today is pleased to provide an update on the closing of its previously announced acquisition of Endeavor Crude, LLC, Meridian Equipment Leasing, LLC, its subsidiary CPE Gathering MidCon, LLC, Equipment Transport, LLC, its subsidiary ET EmployeeCo, LLC, and Silver Fuels Processing, LLC (collectively, the "Endeavor Entities").

The Endeavor Entities are providers of oil and gas logistics, transportation, gathering, blending, storage, remediation, and reuse of crude oil, crude oil byproducts, produced water, and oilfield waste, including truck and pipeline transportation of such commodities.

As previously announced, the closing of the acquisition of the Endeavor Entities is subject to the completion of due diligence satisfactory to the parties, delivery of audited financials for the periods ended December 31, 2022 and 2023, delivery of unaudited financial statements for any quarterly periods in 2024, Vivakor's receipt of a satisfactory fairness opinion to the underlying transaction, approval under the Hart Scott Rodino Act (HSR), as well as other customary closing conditions.

Vivakor is completing its due diligence and received audited financials for the respective fiscal years 2022 and 2023. The Company intends to file its HSR pre-merger notification in the near future. Vivakor is now targeting the closing of the acquisition of the Endeavor Entities in the third quarter of 2024.

Vivakor Chairman and CEO James Ballengee commented, "The Endeavor Entities represent an incredible opportunity for Vivakor to consolidate various affiliated businesses under common control, creating a more diversified and profitable company. Synergies between business segments allow Vivakor the opportunity to more completely capture the value chain and streamline operations, resulting in significant cost efficiencies, while providing positive free cash-flow to support on-going growth and current operations."

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