On March 22, 2013, Borneo Resource Investments Ltd. executed a purchase agreement with PT Puncak Kalabat to acquire a 30 hectare property in the Southeast Minahasa Regency of the North Sulawesi Province for $2,000,000. Under the terms of the agreement the company has agreed to pay to the Seller: $5,000 on execution of this agreement, receipt of which is duly acknowledged; a further $45,000 on or before April 30, 2013; a further $450,000 on or before June 30, 2013; and a final payment of $1,500,000 on or before December 31, 2013. After the Seller has received the second payment, the Seller will deliver to the company duly executed transfers of the interest in the Ratatotok Property.
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- Borneo Resource Investments Ltd. Executes Purchase Agreement with PT Puncak Kalabat to Acquire 30 Hectare Property in Southeast Minahasa Regency of North Sulawesi Province for $2,000,000