BacTech Closes first Tranche of private Placement
BACTECH CLOSES FIRST TRANCHE OF UNIT FINANCING
BacTech Environmental Corporation (CSE: BAC, OTC: BCCEF, FSE: 0BT1) (“BacTech” or
the “Company”), a commercially proven environmental technology company delivering eco -
friendly bioleaching and remediation solutions for precious metal and critical mineral recovery, is
pleased to announce the closing of the first tranche of a non-brokered private placement.
BacTech has price protection for this offering of 20,000,000 units (each, a “ Unit”) at a price of
C$0.05 per Unit for total gross proceeds up to $1,000,000. Each Unit consists of one common
share of the Company (each, a “Common Share”) and one common share purchase warrant (each
whole warrant, a “Warrant ”). Each Warrant shall entitle the holder to purchase one Common
Share at a price of $0.10 up to 24 months from closing. In the event the common shares trade at or
above $0.20 for 10 consecutive trading days, as indicated on the CSE Exchange, the Corporation
shall give notice by way of a press release that the Warrants’ expiry date will expire 20 trading
days thereafter.
Today, the Company closed the first tranche of the private placement with 6,634,000 units for
gross proceeds of $331,700. The company has issued 6,634,000 common shares and 6,634,000
share purchase warrants. Further to the Company's earlier announcement, a second closing for an
additional $200,000 will occur within the next two weeks . In connection with this private
placement the Company paid finders’ fees of an aggregate $4,400 in cash and 96,000 broker
warrants. Each broker warrant shall entitle the holder to purchase one Common Share at a price
of $0.10 up to 24 months from closing. In the event the common shares trade at or above $0.20 for
10 consecutive trading days, as indicated on the CSE Exchange, the Corporation shall have give
notice by way of a press release that the Warrants’ expiry date will expire 20 trading days
thereafter.
Insiders of the Company purchased 1,184,000 units for gross proceeds of $59,200.
About BacTech Environmental Corporation
BacTech Environmental Corporation is a company that specializes in environmental technology.
We use a process called bioleaching to recover metals like gold, silver, cobalt, nickel, and copper,
while also safely removing harmful contaminants like arsenic. This process is eco -friendly and
uses naturally occurring bacteria that are safe for both humans and the environment. By using our
proprietary method of bioleaching, we can neutralize toxic concentrates and tailings while also
creating profitable opportunities. The company is publicly traded on several stock exchanges,
including the CSE, OTCQB, and Frankfurt Stock Exchange.
For further information contact:
Ross Orr
President & CEO, BacTech Environmental Corporation
416-813-0303 ext. 222,
Email: [email protected]
Website: https://bactechgreen.com/
Investor Presentation: https://bactechgreen.com/investors/
Follow us on:
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YouTube https://www.youtube.com/channel/UCBgXr3ej2_BMOtoeFoKIgEg
Special Note Regarding Forward-Looking Statements
This news release contains “forward-looking information”, which may include, but is not limited
to, statements with respect to future tailings sites, sampling or other investigations of tailing sites,
the Company’s ability to make use of infrastructure around tailings sites or operating performance
of the Company and its projects. Often, but not always, forward- looking statements can be
identified using words such as “plans”, “expects”, “is expected”, “ budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “anticipates”, or believes” or variations (including negative
variations) of such words and phrases, or state that certain actions, events or results “may”,
“could”, “would”, “might” or “will” be t aken, occur or be achieved. Forward- looking statements
involve known and unknown risks, uncertainties and other factors which may cause the actual
results, performance, or achievements of the Company to be materially different from any future
results, performance or achievements expressed or implied by the forward- looking statements.
Forward-looking statements contained herein are made as of the date of this news release and the
Company disclaims, other than as required by law, any obligation to update any forward -looking
statements whether because of new information, results, future events, circumstances, or if
management’s estimates or opinions should change, or otherwise. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly, the reader is cautioned
not to place undue reliance on forward-looking statements.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for
the adequacy or the accuracy of the contents of this release.