Toronto, Canada, December 23, 2010 – BacTech Environmental Corporation (“BacTech” or the “Company”, CNSX: BAC) today announced the closing of the private placement announced on December 10, 2010, for total gross proceeds of CAD$303,200. Pursuant to the financing, the Company issued 2,526,666 units priced at $0.12 per unit. Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at a price of $0.17 until December 22, 2011.
In connection with the offering, BacTech will pay to arm’s length parties finder’s fees totaling $8,890.00 and issue 82,833 agent’s warrants. Each agent’s warrant is exercisable into one common share at $0.17 until December 22, 2011. The common shares and underlying securities are subject to a four-month hold period that expires April 23, 2011.
The proceeds will be used for general working capital.
Stock symbol: It has come to our attention that some people are having difficulty locating BacTech Environmental to obtain a stock quotation. The Company is listed on the Canadian National Stock Exchange (“CNSX”) under the symbol “BAC”. Below are suggested avenues for obtaining a quote.
The easiest way to find a quote for BacTech, is through the following two web sites, using the symbol “BAC”. Both of these are 15 minutes delayed.
• www.cnsx.ca This is the web site for the CNSX
• www.stockwatch.com This is an independent site
For those attempting to obtain a quote through a brokerage terminal, the following may be of assistance;
• If the feed comes from Thompson Reuters, use the symbol “BAC-L”
• If the feed comes from Globe Investor, use the symbol “BAC-CN”
At this time, Yahoo Finance does not provide quotations for CNSX stocks.
BacTech Environmental Corporation was created through a Plan of Arrangement completed on December 2, 2010, whereby shareholders of the former BacTech Mining Corporation (“BMC”), renamed REBgold Corporation, were issued, in exchange for their BMC shares, 1 share of REBgold Corporation and 1/5th of one share of BacTech Environmental. BacTech Environmental holds the exclusive rights to use REBgold’s patented bioleaching technology for reclamation of tailings and concentrate processing.
For further information contact:
Ross Orr, President & CEO: 416-813-0303 ext 222
Shares outstanding 29,246,773