Document:

nvstrr_ex101

  Exhibit 10.1

 

NOVUSTERRA
INC.

 

This
agreement (this “Agreement”) is entered into by and
between Novusterra Inc. (“the Company”) a Florida
corporation and American Resources Corp (“ARC”) a
Florida Corporation doing business in Indiana (each ARC and the
Company, the “Parties” and each, a “Party”)
for the Company to issue ARC 10,000,000 Class B no par value Common
Shares and 5,700,000 Class A no par value Common shares, which
collectively represent 51.14% ownership and 87.57% voting rights of
the Company as of March 19, 2021 in exchange for ARC using the
Company to build a Graphene Manufacturing Operation using certain
technology to which ARC has licensed.

 

NOW
THEREFORE, in exchange for the Parties entering into the Graphene
Development Agreement dated March 19, 2021, and for good and
valuable consideration, the Parties agree as follows:

 

1.

Novusterra Inc., is
a Florida corporation in good standing with the Secretary of State
for the State of Florida, The present capitalization of the Company
consist authorized shares of 3,000,000,000 of which (1)
2,400,000,000 shares have been designated as Class A Common Stock,
no par value per share (with one vote for each share) (2)
200,000,000 shares have been designated as Class B Common Stock, no
par value per share (with 10 votes for each share), and (3)
400,000,000 shares of Preferred Stock, no par value per
share.

2.

As of March 19,
2021, the Company has 15,000,000 Class A common stock outstanding,
no Class B and Preferred stock outstanding.

3.

The Company
represent and warrant that there are no lawsuits pending or
threatened and that all tax returns have been filed and taxes and
withholding taxes paid and there are no outstanding claims or
liabilities, contingent or otherwise, including any tax claims and
liabilities except those set forth in the relevant Financial
Statement and those incurred in the normal course of business since
the date of the relevant Financial Statements.

4.

ARC will look to
expand the Board of Directors and Officers of the Company over time
as it builds out the technology and company. Initially Mark C.
Jensen and a minimum of one with a right of 2 other nominees will
be appointed by AREC on the board.

5.

On the day the
majority ownership transfers to ARC they will be taking over the
Company with no assets or liabilities in the Company.

6.

The Company
currently has a Regulation A prospectus filed with the SEC and has
gotten 7 comments, Andrew Weeraratne the current Chief Executive
and Chief Financial Officer agrees to continue to work as a
financial consultant and CFO of the Company till this Reg A
offering filed with the SEC is qualified and the financing is
closed to secure a full time CFO.

7. 

This Agreement
shall be governed by and construed in accordance with the laws of
the State of Florida.

8.

The Company Shares
issued to ARC are not registered and will not be registered in
connection with this Agreement under the Securities Act of 1933, as
amended (the “Securities Act”), or any state’s
securities laws, on the grounds that the transaction in which the
New Company Shares are to be issued qualifies for applicable
exemptions from the securities registration requirements of such
statutes. The exemptions being claimed include, but are not
necessarily limited to, those available under Section 4(a)(2) of
the Securities Act and the reliance by the Company upon the
exemptions from the securities registration requirements of the
federal and state securities laws, is predicated in part on the
representations, understandings and covenants set forth in this
Agreement.

 

(i) ARC agrees and acknowledges that until such time as the Company Shares are
registered under the Securities Act, each document evidencing the
Company Shares, will bear a restrictive legend in substantially the
following form:

“The
shares evidenced by this certificate have not been registered under
either the Securities Act of 1933, as amended, or the securities
laws of any state. These securities may not be offered for sale,
sold, assigned, pledged, hypothecated, or otherwise transferred: at
any time, absent either (A) registration of the transaction under
the Securities Act of 1933, as amended, and every other applicable
state securities law or (B) the issuer’s receipt of an
acceptable opinion of counsel that registration of the transaction
under those laws is not required.”

 

9. ARC represent and warrant to
the Company that they are sophisticated investors able to evaluate
the merits, risks, and other factors bearing upon the suitability
of the Securities as an investment and have been afforded adequate
opportunity to evaluate this investment in light of those factors,
his financial condition, and investment knowledge and
experience.

 

IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement on
the dates set forth below.

 

	

/s/ Mark
Jensen

 

Mark
Jensen

Chief Executive
Officer

12115 Visionary
Way

Suite
174

Fishers, IN
46038

Date: March
31st,
2021

	

/s/ I Andrew
Weeraratne

 

I
Andrew Weeraratne

Chief Executive
Officer

7135 Collins
Ave

No.
624

Miami FL
33141

Date: March
31st,
2021nvstrr_ex102

  Exhibit 10.2

 

GRAPHENE DEVELOPMENT AGREEMENT

 

 

This
GRAPHENE DEVELOPMENT AGREEMENT (this “Agreement”) is
entered into this 31st day of March 2021 (the “Effective
Date”) by and between Novusterra Inc., a Florida corporation
with an address of 7135 Collins Ave., No. 624, Miami FL 33141
(“NT”) and American Resources Corporation, a Florida
corporation with an address of 12115 Visionary Way, Suite 174,
Fishers IN 46038 (“ARC”), with ARC and NT, the
“Parties” and each, a “Party”.

 

PRELIMINARY
STATEMENTS

 

WHEREAS, the
Parties desire to collaborate on the building and commercialization
of graphene related technologies that ARC, or its subsidiaries,
currently holds; and

 

NOW
THEREFORE, in exchange for good and value consideration, the
receipt and sufficiency of which are hereby agreed to and
acknowledged by the Parties, the Parties agree as
follows:

 

1. 

Sublicense: ARC will sublicense
to NT the licenses and technologies held by ARC that relate to the
commercialization of graphene (the “Graphene
Technologies”) as listed in Exhibit A. For the agreement to
sublicense, ARC will receive Fifty Percent (50.0%) of the positive
operating income of NT. The operating income shall be defined as
all revenue to NT less the direct operating costs of NT from
manufacturing and sale of Graphene in the operating facilities.
This clause shall not apply to any other businesses that NT may
begin, acquire, or expand into including manufacturing any products
using Graphene as part of the raw material.

 

2. 

Funding. NT will raise the
capital needed to complete the design, build, and operation of any
facility utilizing the Graphene Technologies that is owned or
operated by NT.

 

3. 

Breach and Termination. If
either Party breaches any term or condition of this Agreement and
does not cure said breach within ten (10) days after notice by the
other Party, this Agreement shall terminate.

 

4. 

Governing Law. This Agreement
shall be governed by and construed solely and exclusively in
accordance with the laws of State of Indiana without regard to any
statutory or common-law provision pertaining to conflicts of laws.
The Parties agree that courts of competent jurisdiction in Hamilton
County, Indiana.

 

5. 

Notices. Any notice required or
provided for in this Agreement to be given to any Party shall be
mailed certified mail, return receipt requested, or hand delivered,
or email with receipt acknowledged to the Party at the address for
each such Party set forth on the signature page
hereto.

 

6. 

Successors and Assigns. This
Agreement shall be binding upon and inure to the benefit of the
successors and assigns of each of the respective
Parties.

 

7. 

Amendments. Any amendments to
this Agreement shall be in writing signed by all
Parties.

 

8. 

Severability. In case any one
or more provisions contained in this Agreement shall, for any
reason, be held invalid illegal or unenforceable in any respect,
such invalidity, illegality or unenforceability shall not affect
any other provision hereof and this Agreement shall be construed as
if such invalid, illegal or unenforceable provision had not been
contained herein.

 

9. 

Waiver. No consent or waiver,
expressed or implied, by a Party of any breach or default by any
other Party in the performance by that other Party of its
obligations hereunder shall be deemed or construed to be a consent
or waiver to any other breach or default in the performance by such
other Party of the same or any other obligations of such other
Party hereunder. Failure on the part of any Party to complain of
any act or failure to act of another Party or to declare that other
Party in default, irrespective of how long such failure continues,
shall not constitute a waiver of such Party of its rights
hereunder.

 

 

 

 

10. 

Counterparts. This Agreement
may be executed in multiple counterparts each of which shall be
deemed an original for all purposes. Signatures may also be made
and delivered by electronic means including facsimile, PDF
attachments to emails of any other electronic means capable of
delivering legible signatures authorized by the delivering
signatory.

 

11. 

Confidentiality. Each Party
hereto agrees with the other that, unless and until the
transactions contemplated by this Agreement have been consummated,
it and its representatives will hold in strict confidence all data
and information obtained with respect to another Party or any
subsidiary thereof from any representative, officer, director or
employee, or from any books or records or from personal inspection,
of such other party, and shall not use such data or information or
disclose the same to others, except (i) to the extent such data or
information is published, is a matter of public knowledge, or is
required by law to be published; or (ii) to the extent that such
data or information must be used or disclosed in order to
consummate the transactions contemplated by this Agreement. In the
event of the termination of this Agreement, each party shall return
to the other party all documents and other materials obtained by it
or on its behalf and shall destroy all copies, digests, work
papers, abstracts or other materials relating thereto, and each
Party will continue to comply with the confidentiality provisions
set forth herein.

 

12. 

Entire Agreement. This
Agreement contains the entire understanding among the Parties and
supersedes any prior written or oral agreement between them
respecting the subject matter of this Agreement. There are no
representations, agreements, arrangements, or understandings, oral
or written, between the Parties hereto relating to the subject
matter of this Agreement that are not fully expressed
herein.

 

IN WITNESS WHEREOF, the Parties hereto
have executed this Agreement on the dates set forth
above.

 

 

ARC:

 

 

AMERICAN
RESOURCES CORPORATION

 

 

By: /s/ Mark
Jensen

 

Name:
Mark Jensen

 

Title:
CEO

 

 

 

NT:

 

NOVUSTERRA,
INC.

 

 

   
           
           
           
           
           
         By: /s/
I Andrew
Weeraratne                                                                

Name: I
Andrew Weeraratne

 

Title:
CEO

 

 

 

 

 

 

Exhibit A

 

1) 

US10544503

 

2) 

US20190047867A1

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