BacTech Engages Analytica Securities for US$20.0M Green Bond
BacTech Engages Analytica Securities to Raise $US20M in Green/Social
Bonds for the Tenguel Project
TORONTO, CANADA, July 26, 2023 – BacTech Environmental Corporation (CSE: BAC,
OTC: BCCEF, FSE: 0BT1 ) (“BacTech” or the “Company”), a commercially proven
environmental technology company today announced a significant step forward in the Company’s
commitment to providing innovative eco- friendly bioleaching and remediation solutions for
precious metal and critical mineral recovery.
Today, BacTech is pleased to share that the Company has engaged Analytica Securities, a
reputable Quito-based Securities firm known for its expertise in macroeconomic and financial
consulting, corporate finance, M&A, debt structuring, stock brokerage, portfolio management, and
trust business management. Analytica Securities will play a crucial role in marketing BacTech’s
proposed $US20M Green/Social Bond offering.
The primary purpose of this bond offering is to raise funds for the construction and program
development of BacTech's bioleaching facility in Tenguel, Ecuador. This facility will focus on the
treatment of gold and silver containing high levels of arsenic, demonstrating the Company’s
continued dedication to sustainable practices in the mining industry.
In line with BacTech’s commitment to make a positive impact on both the environment and local
communities, the proceeds from the bond off ering will be allocated to four eligible project
investment areas. These include pollution prevention and control, sustainable water and
wastewater management, socioeconomic advancement and empowerment, and the generation of
decent and inclusive employment opportunities.
To ensure transparency and adherence to global best practices, BacTech has recently launched the
Company’s Sustainable Bond Framework for issuing G reen and S ocial bonds. This framework
aligns with the International Capital Market Association's (ICMA) Green Bond Principles (GBP)
2021 and Social Bond Principles (SBP) 2023. Additionally, the Company is proud to have received
an independent Second Party Opinion (SPO) from Moody’s Investors Service (Moody’s),
awarding BacTech a Sustainability Qu ality Score of SQS2 (Very Good), recognizing the
Company’s significant contribution to sustainability.
"We are excited to pursue this financing opportunity with the support of Analytica, and we estimate
that $16M of the $20M raised will be allocated to the capital portion of the bioleaching facility
construction," said Ross Orr, President, and CEO of BacTech. "The remaining $4M will be utilized
to finance the purchase of concentrates from the local miners, reinforcing our commitment to
supporting the local economy."
Furthermore, BacTech is pleased to report that the Company is progressing well with its
Consultation permit and anticipates receiving it shortly. Securing this permit will signify a
significant milestone for the Company, as it ensures BacTech has fulfilled all necessary permits
required for building the plant.
BacTech remains committed to achieving the Company’s environmental and social objectives
while delivering long-term value to BacTech’s shareholders and stakeholders. BacTech believes
that this Green/Social Bond offering is a significant step in the right direction.
About the Tenguel – Ponce Enriquez Bioleaching Project
BacTech is planning to build a new owner-operated bioleaching facility in Tenguel, Ecuador, in a
region where arsenic is associated with sulphide gold ore (Arsenopyrite). The Company’s plan is
to build a 50 tpd bioleach plant capable of tr eating 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. BacTech has signed an agreement with the government to
build a Phase 2 plant that would see the addition of 150-200 tpd of capacity capable of producing
in excess of 100,000 ounces per annum.
Key economic highlights, assuming a base gold price @ $1,600 per ounce:
• 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 $17.0M
• Bioleach Operating Cost of $212 per tonne
• Pre-tax Earnings Prior to Employee Bonus – $10.9M annually
• Estimated local employee bonus pool – $1.64M
In total, there are over 100 small mines operating in the area. 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 f or
environmental standards, but also for the highest standards in all ESG considerations.
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 are able to 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,
Website: www.bactechgreen.com
Investor Presentation: www.bactechgreen.com/investors
Follow BacTech on:
Facebook https://www.facebook.com/BacTechGreen
Twitter https://twitter.com/BacTechGreen
LinkedIn https://www.linkedin.com/company/1613873
Vimeo https://vimeo.com/bactechgreen
YouTube https://www.youtube.com/@bactechenvironmental
Disclaimer: Stated goals of raising US$20 million to finance planned construction of the project
in no way guarantees process approval.
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 variation s (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 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 stateme nts. 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.
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.