Titan Technologies, Inc. received an additional $75,000.00 from International Tire Recycling, Inc., which brings the portion of the $500,000 license fee deposit for three tire recycling plants and the exclusive rights to build plants in Mexico received to date to $180,000.
In addition, International has informed Titan that its Mexican affiliate has signed a purchase agreement and paid an initial down payment for an approximately 93 acre industrial site located in Nuevo Laredo, Tamaulipas, Mexico on which it intends to build its first Mexican tire recycling plant.
International further has confirmed to Titan that it has entered into a preliminary design contract with Gideon Toal, Inc. for preliminary design services related to its first tire recycling plant in Nuevo Laredo.
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