BAC.CN · 2022-03-01 12:00:00

BacTech Completes First Tranche of Unique Financing

Financings

TORONTO, ON, March 1 , 2022 – BacTech Environmental Corporation (CSE: BAC, OTC:

BCCEF, FSE: 0BT1) (“ BacTech” or the “Company”), a commercially proven environmental

technology company delivering effective and eco-friendly bioleaching and remediation solutions,

is pleased to report the closing of the first tranche of its previously announced non-brokered private

placement offering (the “Offering”). The Company has closed on the first tranche funds for gross

proceeds of $1.21M at a price of $0.20 per Unit.

The Company continues to work with investors and financial institutions to process all orders and

close the Offering.

Ross Orr, CEO of BacTech Environmental Corp. said: “The response to this unique financing has

been nothing short of outstanding. Even with the turmoil in the markets we expect to reach our

goal of $3M. With this funding, we will secure the property for the plant, order longer lead time

construction materials and, of course, keep the permitting rolling. I couldn’t be happier, and I thank

all shareholders for their continued support.”

About the Tenguel – Ponce Enriquez Bioleaching Project

BacTech is planning to build a new owner -operated bioleaching facility in Tenguel, near Ponce

Enriquez, Ecuador, in a region where arsenic is associated with gold ore (Arsenopyrite). The

Company’s plan is to build a 50 tpd bioleach plant capable of treating high gold/arsenic material.

A 50 tpd plant, processing feed of 1.75 ounces of gold per tonne, similar to feeds available to the

Company from local miners, would produce approximately 31,000 ounces per year. Plant designs

are modular and can be expanded without affecting ongoing production. The total concentrate

market in the Ponce Enriquez area is estimated to be between 200 and 250 tonnes per day, allowing

for increased throughput potential with a larger plant.

Key economic highlights:

● Pre-tax NPV (Net Present Value with 5% discount rate) of $60.7M

● Pre-tax IRR (Internal Rate of Return) of 57.9%

● Annual Gold Production of 30, 900 ounces

● Capital Cost of $17M

● Bioleach Operating Cost of $212 per tonne

● Assumed Purchase Prices of Concentrate – 65% of the contained gold value

● Pre-tax Earnings Prior to Employee Bonus – $10.9M annually

● Estimated local employee bonus pool – $1.64M

● Payback (70% DEBT) – 2 years

In total, there are over 90 small mines operating in the area. BacTech intends to return local miner

compensation back to previous payment levels, prior to a sweeping price reduction imposed by

Chinese buyers due to recent import levies on arsenic/gold concentrates entering China. BacTech

continues to investigate the prospects of establishing additional modern bioleaching facilities

across other areas of Ecuador, Peru, and Colombia. Where possible, the Company will partner

with national and local governments, non-governmental organizations (NGOs) and others to assist

with the funding of these projects and ensure that they meet the Company’s high expectations not

only for environmental standards, but also for the highest standards in all ESG considerations.

About BacTech Environmental Corporation

BacTech is a proven environmental technology company, delivering effective and eco -friendly

bioleaching and remediation solutions to commercial operations to process and recover preferred

metals (gold, silver, cobalt, and copper) smartly and safely remove and transform harmful

contaminants like arsenic into benign EPA-approved products for landfill. Tapping into numerous

environmental and economic advantages of its proprietary method of bioleaching, BacTech uses

naturally occurring bacteria, harmless to both humans and the environment, to neutralize toxic

mining sites with high -pay potential. BacTech is publicly traded on the CSE under the symbol

“BAC”; on the OTC as “BCCEF”; and the Frankfurt Stock Exchange as “0BT1”.

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/

Facebook http://www.facebook.com/BacTechGreen

Twitter http://twitter.com/BacTechGreen

LinkedIn http://www.linkedin.com/company/1613873

Vimeo http://vimeo.com/bactechgreen

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”, “intend s”, “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 taken, 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 for ward-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 infor mation, 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.

Shares outstanding: 163,805,558

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.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the

shares, nor is it a solicitation of interest from a prospective investor.

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