Toronto, Canada, November 25, 2010 – BacTech Mining Corporation (“BacTech” or the “Company”, TSX.V: BM) is pleased to announce that today the Superior Court of Justice (Ontario) issued a final order approving the Company’s previously announced plan of arrangement involving the Company and BacTech Environmental Corporation (the “Arrangement”). With the approval from the Superior Court of Justice (Ontario), the Company anticipates satisfaction of the remaining conditions precedent to the Arrangement, and that the Arrangement will be effective December 2, 2010. Upon the completion of the Arrangement, the Company will change its name from BacTech Mining Corporation to REBgold Corporation.
Pursuant to the Arrangement, shareholders of the Company will receive, in exchange for each BacTech share (a “BacTech Share”) held as of the share distribution record date, one new common share of the Company (a “REBgold Share”) and one-fifth of a common share of BacTech Environmental Corporation (each whole share a “BacTech Environmental Share”). The share distribution record date for the Arrangement is the close of business on December 1, 2010. Accordingly, commencing November 29, 2010, trades of BacTech Shares on the TSX Venture Exchange will be on an “ex distribution” basis. After the Arrangement becomes effective, REBgold Shares will trade on the TSX Venture Exchange under the symbol “RBG”. The BacTech Environmental Shares have been conditionally approved for listing on the Canadian National Stock Exchange under the symbol “BAC”.
BacTech owns patented bacterial oxidation technology for the treatment of refractory ores and concentrates to enhance the recovery of gold, silver and base metals. The technology can be applied to the processing of concentrates generated from mining and can also be applied to the reclamation of mine tailings.
For further information contact:
Ross Orr, President & CEO: 416-813-0303 ext 222
Shares outstanding 133,600,039
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.