Toronto, Canada, January 21, 2015 – BacTech Environmental Corporation (“BacTech”, CSE: BAC, OTC: BCCEF, WKN: A1H4TY) is pleased to announce that it has arranged for a bridge loan from a third party. The purpose of the loan is to provide working capital until such time as the contract with COMIBOL for the exploration and development of the Telamayu Tailings project is signed.
The terms of the bridge loan are as follows;
1. Total amount available, $150,000;
2. To be drawn monthly at a rate of $50,000 per month;
3. Interest rate of 1% per month;
4. Bonus shares of 200,000 common shares of BacTech for every $50,000 tranche. A total of up to 600,000 common shares can be issued if the full amount is drawn down, and
5. A 1% Net Profit Interest (“NPI”) in the Telamayu remediation project.
BacTech Environmental Corporation holds the perpetual, exclusive, royalty-free rights to use the patented BACOX bioleaching technology for the reclamation of tailings and mining waste materials. The Company’s principle focus is a high-grade silver/copper tailings project called Telamayu located in Atocha, Bolivia in partnership with COMIBOL, the state mining group. The Company continues to field enquiries globally with respect to additional opportunities for remediation including licensing transactions for the technology.
For further information contact:
Ross Orr, President & CEO
BacTech Environmental Corporation
416-813-0303 ext 222
Bill Mitoulas, Investor Relations
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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 by the use of 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 as a result 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.
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