KAL Energy Signs Agreement With Thatcher Mining Pte Ltd. to Acquire Coal Concessions in Indonesiaadmin
KAL Energy Inc. is pleased to announce an agreement has been signed with Thatcher Mining Pte Ltd. “Thatcher”, a company incorporated in Singapore.
Under the agreement KAL will acquire 100% of Thatcher by issuing 32,000,000 restricted shares. Thatcher has the rights to two large coal concessions situated near the Mahakam River in North Eastern Kalimantan, Indonesia. The closing of the transaction is expected on or about January 20, 2007.
KAL has received $600,000US on a private placement as working capital.
On Behalf of the Board of Directors,
KAL ENERGY INC.
Strato Malamas, President
Contacts: KAL Energy Inc. Strato Malamas President (604) 961-8878
(604) 987-7653 (FAX)