Nate's Food Co. announced that the company has successfully secured a purchase order for 49,000,000 barrels of jet fuel, with an estimated value of nearly $5 billion based on current Platts pricing. The deal is structured as follows: An initial transaction of 1,000,000 barrels of jet fuel.

Subsequent monthly deliveries of 4,000,000 barrels for a duration of 12 months. This purchase order was made possible by recent joint venture (JV) partnership that was announced last week. The partnership has enabled to ensure a consistent and reliable supply of jet fuel from a reputable refinery, streamlining the entire process between JV partner and buyers.

To guarantee the successful execution of this order, Nate's Food Co is currently engaged in several crucial activities: Authorization to Verify (ATV) from Tank Farm: Company is actively working with tank storage farm in Rotterdam to establish the terminal agreement activation with the Port of Rotterdam. This step is vital for obtaining the Authorization to Verify (ATV) from the tank farm, which is a prerequisite for supplier to proceed with the delivery process of the purchased jet fuel. SGS Report Confirmation: Once the ATV is sent and verified by both supplier and JV partner, will receive an SGS (Société Générale de Surveillance) report from the refinery.

This report will provide information on the quality and compliance of the jet fuel, ensuring it meets the highest industry standards. Company will promptly forward the SGS report to buyer, who commits to sending the funds under the purchase order within 24 hours of confirming the SGS report. It's worth noting that if the SGS report is older than 72 hours, the buyer has the option to perform a dip test on the fuel before funding.

Tank Storage Agreement (TSA): In this regard, company share that have already received the draft tank storage agreement from the tank farm. Dedicated team is diligently reviewing this agreement to ensure its alignment with purchase orders and the seamless execution of commitments.