Bactech Environmental Files US$1 Million REG a Offering to Fund Planned Ecuador GOLD ORE Processing Project
BACTECH ENVIRONMENTAL FILES US$1 MILLION REG A OFFERING TO
FUND PLANNED ECUADOR GOLD ORE PROCESSING PROJECT
Toronto, ON, Canada, April 2 , 2020 - BacTech Environmental Corporation (CSE:
BAC; OTC Pink: BCCEF) (“BacTech” or the “Company”) is pleased to announce it has
filed a Form 1 -A Regulation A Offering with the Securities Exchange Commission
(“SEC”) in the United States to raise up to US$1 million dollars for the Company’s
bioleach mineralized material processing plant project planned for the Ponce
Enriquez region of Ecuador . BacTech has received a Letter of Interest from
Continuation Capital, a U.S. institutional investor, to potentially fund all or part of
this Tier 2 offering. The Company has identified many small-scale gold mining
operations within the Ponce Enriquez region that could potentially benefit from
BacTech’s proprietary bioleach process to economically remove unwanted arsenic
from their gold production.
“With the recent firming in gold prices and reports of increasingly costly restrictions
on the processing of gold associated with arsenic, we feel this is an excellent
opportunity to accelerate our expansion strategy in Ecuador ,” said Ross Orr,
President and CEO of BacTech. “By utilizing the Reg A funding exemption that has
existed in the U.S. since the 1930s to raise new growth capital, BacTech can
establish itself as a leader in clean mining technologies and
and increase awareness of our environmentally proven technology to a much larger
investor audience in the U.S. and worldwide.”
The Regulation A financing format will allow for BacTech to draw down specific
tranches of the proposed financing to match the Company’s progress as it moves
towards construction of a bioleach plant planned for Ponce Enriquez in southern
Ecuador. Following the anticipated SEC qualification of the proposed Reg A
financing, BacTech plans to raise US$1M over the proceeding 12 months. BacTech
will draw down the capital on an “as needed basis” within the context of the market
at the time.
The Ponce Enriquez region in southern Ecuador hosts over 90 small -scale gold
mines, many of which produce significant amount s of arsenic along with
gold. Given the ever -tightening environmental regulations globally, producers of
this type of high arsenic gold concentrate can expect to receive significantly lower
prices for their product compared with cleaner concentrates. BacTech's
proprietary bioleaching process and technology can stabilize the high levels of
arsenic in these gold concentrates and could provide miners with an economically
superior local processing option that will provide better net prices for their product
and also vastly improve the environmental aspects of the equation.
The Company anticipates making further announcements regarding progress of
the proposed Reg A financing and the development of the planned Ecuador
bioleach facility.
ABOUT BACTECH
BacTech is promoting the use of its proprietary bioleach processing technology to
treat historic arsenopyrite concentrates and tailings produced in the Ponce
Enriquez area of Southern Ecuador.
BacTech has agreed to participate with a group looking to reprocess the Arsenic
Stockpile in Snow Lake, Manitoba as a technology partner.
For further information contact: Ross Orr, President & CEO, BacTech Environmental
Corporation/ 416- 813-0303 ext. 222, Cell 416- 346-5529 and Email:
Robin Cook, Investor Relations: 416-809-1738, Email: [email protected]
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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 ope rating 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 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 ev ents, 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: 103,287,089
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.