TORONTO, ON, June 15, 2023 – BacTech Environmental Corporation (CSE: BAC, OTC: BCCEF, FSE: 0BT1) (“BacTech” or the “Company”), a commercially proven environmental technology company delivering eco-friendly bioleaching and remediation solutions for precious metal and critical mineral recovery, today announced that Moneta Advisory Partners, LLC (“Moneta”), co-founded by Marc LoPresti and Jon Najarian, has been engaged. Through its “Venture Evangelism” platform, Moneta will collaborate with BacTech to launch a multi-channel content production and investor awareness program, helping to expand industry relationships and market visibility for BacTech and its developing projects.

“We had the good fortune to recently meet with Ross at an industry conference where we learned more about BacTech’s proprietary bioleaching technology,” said Marc LoPresti, Co-Founder of Moneta Advisory Partners. “We were impressed with the Company’s vision, investment potential and unfolding plans for the bioleaching and gold recovery facility in Ecuador. This is a great fit for Moneta’s global network.”

Marc LoPresti is a Wall Street veteran with over 25 years of experience in alternative investments, having started his career on the floor of the NYSE working for Lehman Brothers. He is currently co-founder and managing director of IDI Group, co-founder and managing director of Moneta Advisory Partners, co-founder and board member of BattleFin Group, managing director of The Strategic Funds, and co-founder of The Zombie Collective, LLC. He is regularly on CNBC, CoindeskTV, TD Ameritrade Network, Sirius XM Radio, Bloomberg, and Fox. Mr. LoPresti has been quoted in numerous publications including Forbes, Reuters, the Wall Street Journal, Investor’s Business Daily, and Barron’s.

Jon Najarian began his career as a member of the CBOE, NYSE, CME and CBOT and worked as a floor trader for some 25 years. Jon now invests in and works with start-ups via Rebellion Partners, a venture consulting firm he co-founded. He also co-founded Market Rebellion, a company focused on educating the individual investor. Jon is also co-founder of Moneta Advisory Partners, LLC, and an investor and senior advisor to IDI Group. Formerly, Jon was a 16-year contributor to a variety of CNBC programs including Worldwide Exchange, The Halftime Report, Fast Money, and Power Lunch. Today, Jon appears on Fox Business and Market Rebellion’s exclusive, regularly scheduled shows on Market Rebellion TV.

As consideration for the provision of the services, and in accordance with the terms and provisions of the Agreement, the Company proposes to (i) issue 500,000 Common Share Purchase Options (“Options ”) at a deemed issue price of $.10 per share to Moneta, a private company pursuant to a Shares for Services Agreement dated June 12, 2023, and (ii) an additional 500,000 Options    exercisable at $0.20 per share for a period of two (2) years from the date of grant. The Options will vest in stages over a twelve (12) month period with 100,000 Options vesting every month for 10 months following the grant date.

About the Tenguel – Ponce Enriquez Bioleaching Project

BacTech is planning to build a new owner-operated bioleaching facility in Tenguel, Ecuador, in a region where arsenic is associated with sulphide gold ore (Arsenopyrite). The Company’s plan is to build a 50 tpd bioleach plant capable of treating high gold/arsenic material. A 50 tpd plant, processing feed of 1.75 ounces of gold per tonne, similar to feeds available to the Company from local miners, would produce approximately 31,000 ounces per year. Plant designs are modular and can be expanded without affecting ongoing production. The total concentrate market in the Ponce Enriquez area is estimated to be between 200 and 250 tonnes per day, allowing for increased throughput potential with a larger plant. BacTech has signed an agreement with the government to build a Phase 2 plant that would see the addition of 150-200 tpd of capacity capable of producing in excess of 100,000 ounces per annum.

Key economic highlights, assuming a base gold price @ $1,600 per ounce: 

  • Pre-tax NPV (Net Present Value with 5% discount rate) of $60.7M
  • Pre-tax IRR (Internal Rate of Return) of 57.9%
  • Annual Gold Production of 30, 900 ounces
  • Capital Cost of $17.0M
  • Bioleach Operating Cost of $212 per tonne
  • Pre-tax Earnings Prior to Employee Bonus – $10.9M annually
  • Estimated local employee bonus pool – $1.64M

In total, there are over 100 small mines operating in the area. BacTech continues to investigate the prospects of establishing additional modern bioleaching facilities across other areas of Ecuador, Peru, and Colombia. Where possible, the Company will partner with national and local governments, non-governmental organizations (NGOs) and others to assist with the funding of these projects and ensure that they meet the Company’s high expectations not only for environmental standards, but also for the highest standards in all ESG considerations.

About BacTech Environmental Corporation

BacTech Environmental Corporation is a company that specializes in environmental technology. We use a process called bioleaching to recover metals like gold, silver, cobalt, nickel, and copper, while also safely removing harmful contaminants like arsenic. This process is eco-friendly and uses naturally occurring bacteria that are safe for both humans and the environment. By using our proprietary method of bioleaching, we are able to neutralize toxic concentrates and tailings while also creating profitable opportunities. The company is publicly traded on several stock exchanges, including the CSE, OTCQB, and Frankfurt Stock Exchange.

For further information contact:

Ross Orr
President & CEO, BacTech Environmental Corporation
416-813-0303 ext. 222,
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Disclaimer: Stated goals of raising US$20 million to finance planned construction of the project in no way guarantees process approval. 

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 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 because 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.

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.