KAL Energy, Inc. (OTCBB: KALG) is very happy to announce that the acquisition of Thatcher Mining Pte Ltd. “Thatcher,” has closed. The business will issue 32,000,000 restricted shares for 100% of “Thatcher” which includes the rights to two large coal properties situated close to the Mahakam River in North Eastern Kalimantan, Indonesia.
The business in addition has completed an exclusive placement and contains received a complete of $3,523,000 USD and can issue 17,615,000 restricted shares to the private placement investors. These funds are for working capital and for work programs planned on its coal properties.
“KALG” up to now has advanced to “Thatcher” $190,000 for property payments and yet another $425,000 as deposits on the original work programs.
With respect to the Board of Directors,
KAL Energy Inc. Strato Malamas-Director (604) 961-8878 www.kalenergyinc.com