BacTech to Explore Green Bond Market for Ecuador Project
BacTech Environmental to Explore Green Bond Market for
Ecuador Project
Toronto, Canada, August 5, 2020
BacTech Environmental Corporation (“BacTech” or the “Company”) (CSE:BAC,
OTC:BCCEF) today announced the signing of a Memorandum of Understanding (“MOU”)
with Green Bank Network, LLC to explore financing opportunities using Green Bonds.
“Although we are fairly early in the development of the Ecuador project, we understand
the process to finance the plant construction and initial operating costs. With this in mind
we want to assure shareholders that we are committed to financing the Ponce Enriquez
plant with as little dilution as possible. Financing with instruments tied to environmental
stewardship only makes sense considering the benefits bioleaching can bring to the local
environment,” said Ross Orr, President and CEO of BacTech.
Quoting from a 2019 summary produced by Climate Bonds Initiative, “Global green bond
and green loan issuance reached an adjusted USD257.7bn in 2019, marking a new
global record. The total is up by 51% on the final 2018 figure of USD170.6bn. Of the total,
USD10bn (4%) are green loans (US$10B). The 2019 volume was primarily driven by the
wider European market, which accounted for 45% of global issuance. Asia-Pacific and
North American markets followed at 25% and 23%, respectively.”
ABOUT GREEN BANK NETWORK, LLC
Green Bank Network, LLC focuses on the creation of Green Bonds to assist
environmental projects globally. Green Bank Network projects accepted by the Green
Bank Network advisory board, must have a very strong project and realistic management
team. GBN completes its due diligence before making recommendations to insure a high
percentage of success through their business model and business plan.
The Green Bank Network is offering (GBN) to raise funds for the purpose of assisting the
selected green projects, especially in the “green mining” designation, The GBN bonds are
backed by physical gold, that is processed environmentally. The sale of Green Bonds go
toward projects worldwide, giving many countries an opportunity to become involved in
saving their own communities and supporting green projects.
In July, BacTech collected samples of concentrate from six (6) of the over ninety (90)
mines based in Ponce Enriquez, Ecuador. The combined production of the six (6) mines
is approximately fifty (50) tonnes per day of concentrate, which coincides with the
anticipated throughput of the bioleach plant at Ponce Enriquez. The company is presently
preparing these concentrate samples for assay in Lima, Peru prior to being shipped to
Perth, Australia for bioleach test work. In light of the new financing opportunities, BacTech
is seeking to accelerate the testing process despite the challenges presen ted by the
COVID-19 pandemic.
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
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 forw ard-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 inform ation, 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 materi ally from those anticipated in such
statements. Accordingly, the reader is cautioned not to place undue reliance on forward-
looking statements.
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