Titan secures land in Java, Indonesia

In two separate transactions, Titan Empire (CDN) has acquired eight concessions on the Indonesian island of Java.

Titan recently acquired a 90% interest in the Indonesian company PT Kelsel Asri, which holds rights to 32 concessions on the island. Titan agreed to issue to PT Kelsel three promissory notes with a total face value of US$600,000, together with an undisclosed amount of cash, for three of these concessions. (The remaining 29 are being reviewed by the junior.) In addition, Titan bought a 90% interest PT Irianjaya, a company that holds five gold mining concessions on the island. To secure the purchase, Titan issued to this second company US$1 million in promissory notes. The junior is now seeking partners with whom to explore and develop the land position.