BacTech Issues Units for Debt Repayment
BacTech Issues Units for Debt
TORONTO, ON., November 9, 2021 – BacTech Environmental Corporation (OTC:BCCEF,
CSE:BAC, FSE:0BT1) (“BacTech or the Company”), a commercially proven environmental
technology company delivering effective biomining metal recovery and eco -friendly remediation
solutions, announced today that it has reached agreements with 83.1% of its current debenture and
loan payable holders convert $642,500 of the Company’s outstanding debt and $557,585 accrued
interest into 12,000,854 Units. The Units are the same as those issued recently to raise $351,000
as announced on October 15, 2021. The Company issued 12,000,854 common shares and
12,000,854 share purchase warrants. Each share purchase warrant will entitle the holder to acquire
one additional common share in the capital of the Company at a price of $0.20 for a period of two
years f rom the date the Units are issued. If during the exercise period of the Warrants the
Company's shares trade at $0.40 per share or higher for a period of 20 consecutive trading days on
the CSE, the Company may provide notice in writing to the holders of the Warrants that the expiry
date will be accelerated thirty days from the date of providing such notice Since the debentures
were not originally convertible into common shares of BacTech the units will be subject to a 4-
month hold similar to the recent private placement.
“I think it goes without saying that we are very thankful to the people who have stuck with us
through some pretty dark times. This conversion to liquidity, I am sure, is welcome by all.”
About the Ponce Enriquez Bioleaching Project
BacTech is planning to build a new owner-operated bioleaching facility in 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 1.5 ounces of gold per tonne of feed, similar to feeds available to the Company,
would produce approximately 26,000 ounces per year. Plant designs are modular and can be
expanded without affecting ongoing production.
BacTech continues to investigate the prospects of establishing additional modern mining
operations across other areas of Ecuador, Peru, Colombia, and Central America. 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.
About BacTech Environmental Corporation
BacTech is a proven environmental technology company, delivering effective and eco-friendly
biomining and remediation solutions to commercial operations to smartly process and recover
preferred metals (gold, silver, cobalt, and copper) 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” and on the OTC as “BCCEF”.
For further information contact:
Ross Orr
President & CEO, BacTech Environmental Corporation
416-813-0303 ext. 222
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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 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 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 statements. Accordingly, the reader is cautioned not
to place undue reliance on forward-looking statements.
Shares outstanding: 156,655,558
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.