Update on US$1.0M Reg A Filing
BacTech Provides Update on Reg “A” Filing
June 2, 2020- Toronto, Canada
BacTech Environmental Corporation (“BacTech” or the “Company”), (CSE:BAC,
OTC-BCCEF) today announced an update for its’ previously announced filing of a
US$1M Regulation “A” exemption financing in the United States (PR April 2, 2020).
The Company has recently filed its 2019 Annual Financial Statements in Canada,
and is in the process of filing a US compliant version with the SEC.
“The completion of our annual audit was needed to accompany the Reg “A”
application. We will add these numbers into the offering statement following US
protocol” said Ross Orr, President and CEO of BacTech.
Regulation “A” is an exemption from registration requirements—instituted by the
US Securities Act—that applies to public offerings of securities that do not exceed
$50 million in any, one -year period. Companies utilizing the Regulation “A”
exemption must still file offering st atements with the Securities Exchange
Commission (“SEC”). However, the companies utilizing the exemption are given
distinct advantages over companies that must fully register.
The Regulation “A” financing format will allow for BacTech to draw down specifi c
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 up to 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.
BacTech is investigating the prospects of building a 40 tons per day, bioleach plant
in P once Enriquez to process concentrates that contain high levels of arsenic.
Presently, high arsenic concentrates are sold to smelters in Asia at severely reduced
prices due to the arsenic contamination. BacTech hopes to offer better prices and
payment options to the local miners to encourage them to sell their product locally
for processing.
The initial step will be bioleach test work on samples from up to five different
mines/concentrators in the Ponce Enriquez area of southern Ecuador. Bioleach test
work carried out in 2019 on material from Ponce Enriquez focused on the
stabilization of arsenic contained in the concentrates. Over 99% of the arsenic was
stabilized as ferric arsenate.
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 fo rward-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 info rmation, 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: 105,420,423
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.