BacTech Non-Brokered Financing
BacTech Environmental Announces Non-Brokered Financing
Toronto, Canada, February 18, 2020.
BacTech Environmental Corporation (“BacTech or the Company”) (CSE:BAC, OTC:BCCEF) today
announced a non- brokered private placement of units. The use of proceeds will be to advance
the proposed environmental bioleach circuit to be located in Ponce Enriquez, Ecuador.
The $0.015 units consist of one common share and 1 common share purchas e warrant that
permits the holder to buy an additional share at $0.05 for a period of 24 months from the closing
of the financing. The Company announced that it has closed the first tranche of the financing for
a total of $32,000 through the issuance of 2,133,333 units. BacTech has received price protection
at $0.015 for 45 days.
To recap, Ponce Enriquez , in southern Ecuador, hosts over 90 small mines , many of which
produce significant amounts 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
lower prices for their product compared with cleaner concentrates. B ioleaching’s ability to
stabilize high levels of arsenic will provide a local proce ssing option that should provide better
prices for their product and also add to the environmental aspects of the equation.
“ This is the beginning of BacTech’s reset after the disappointing exit from the Telamayu project
in Bolivia. We have taken the approach of using smaller financings to avoid heavy dilution and to
match capital raising to the results of the various steps to construction. It is our hope that each
successive stage will enhance the viability of the project and lead to raising capital at h igher
valuations and of course, less dilution,” said Ross Orr, President and CEO of the Company.
This is a non -brokered private placement. Any qualified person interested in participating in
the current funding should contact the Company directly.
Company Overview
BacTech is investigating 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 part.
For further information contact: Ross Orr, President & CEO, BacTech Environmental Corporation/
416-813-0303 ext. 222, Cell 416-346-5529 and
Email: [email protected]
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 infrast ructure 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: 101,153,756
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.