Austin, Texas-based Titan Oil and Gas Inc. has signed an acquisition agreement for an operational, revenue-generating, closed-loop green project in the Pacific Northwest. Due to the nature of the agreement, Titan will not be able to release extensive detail or the name of the company until the proxy has been approved. The acquisition will include a merger into a Titan majority-owned subsidiary – subject to acquisition – whereas additional working capital will be raised.
The acquisition will include city contracts for delivery of bio solids, several real estate properties where the nonpetroleum fertilizer will be deposited, a trucking company that currently has city contracts to transport the bio solids and the installation of up to 138 wind turbines on one of the properties to join the wind farm already housed in the Columbia River Gorge.
The project will need a final positive vote for the creation of the preferred shares so that the final terms of the agreement can be met by Titan Oil and Gas. The plan describes the need for an expansion of authorized capital so that Titan can follow through with this renewable energy project.
SOURCE: Titan Oil and Gas Inc.