Bactech Environmental Files US$1 Million Reg A Offering To Fund Planned Ecuador Gold Ore Processing Project
Thursday, April 2nd, 2020
Toronto, ON, Canada, April 2, 2020 – BacTech Environmental Corporation (CSE: BAC; OTC Pink: BCCEF) (“BacTech” or the “Company”) is pleased to announce it has filed a Form 1-A Regulation A Offering with the Securities Exchange Commission (“SEC”) in the United States to raise up to US$1 million dollars for the Company’s bioleach mineralized material processing plant project planned for the Ponce Enriquez region of Ecuador. BacTech has received a Letter of Interest from Continuation Capital, a U.S. institutional investor, to potentially fund all or part of this Tier 2 offering. The Company has identified many small-scale gold mining operations within the Ponce Enriquez region that could potentially benefit from BacTech’s proprietary bioleach process to economically remove unwanted arsenic from their gold production.
“With the recent firming in gold prices and reports of increasingly costly restrictions on the processing of gold associated with arsenic, we feel this is an excellent opportunity to accelerate our expansion strategy in Ecuador,” said Ross Orr, President and CEO of BacTech. “By utilizing the Reg A funding exemption that has existed in the U.S. since the 1930s to raise new growth capital, BacTech can establish itself as a leader in clean mining technologies and
and increase awareness of our environmentally proven technology to a much larger investor audience in the U.S. and worldwide.”
The Regulation A financing format will allow for BacTech to draw down specific 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 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.
The Ponce Enriquez region in southern Ecuador hosts over 90 small-scale gold mines, many of which produce significant amounts of arsenic along with gold. Given the ever-tightening environmental regulations globally, producers of this type of high arsenic gold concentrate can expect to receive significantly lower prices for their product compared with cleaner concentrates. BacTech’s proprietary bioleaching process and technology can stabilize the high levels of arsenic in these gold concentrates and could provide miners with an economically superior local processing option that will provide better net prices for their product and also vastly improve the environmental aspects of the equation.
The Company anticipates making further announcements regarding progress of the proposed Reg A financing and the development of the planned Ecuador bioleach facility.
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: email@example.com
Robin Cook, Investor Relations: 416-809-1738, Email: firstname.lastname@example.org
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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 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.
Shares outstanding: 103,287,089
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.
Additional Press Releases & News:
- BacTech to Raise $1M Through a Private Placement of Units 21-11-23
- BacTech Environmental Receives Final ESIA Permit Approval from Ecuadorian Government to Begin Development of Bioleach Processing Facility in Tenguel 18-11-23
- MIRARCO Secures Grant Money to Complete Pilot Testing BacTech Environmental Bioleaching IP for Nickel-Cobalt Recovery from Tailings 14-08-23
- BacTech Comments on Constitutional Court of Ecuador’s Temporary Suspension of Decree 754 03-08-23
- BacTech Engages Analytica Securities to Raise $US20M in Green/Social Bonds for the Tenguel Project 26-07-23
- BacTech Environmental Establishes Sustainable Bond Framework to Finance Ecuador Bioleach Project 24-07-23
- BacTech Environmental Joins Ontario Government Delegation at Green Expo 2023 in Mexico City and Monterrey 29-06-23
- BacTech Environmental Provides Corporate Update 16-06-23
- BacTech Environmental Engages Moneta Advisory Partners; Wall Street Veterans Marc LoPresti and Jon Najarian to Help Drive Investor Awareness Program 15-06-23
- President of Ecuador Signs Community Consultation Process Decree; Clears Path for BacTech Environmental to Pursue Final Major Permit 01-06-23
- BacTech to Present at the Sequire Investor Summit in Puerto Rico 20-04-23
- BacTech Environmental Initiates Certification Process for US$20M Green Bond Offering to Fund Bioleaching Gold Recovery Plant in Ecuador 13-04-23
- BacTech Environmental Announces First Closing of Private Placement 27-03-23
- BacTech Environmental Closes $250,000 Convertible Debenture with Strategic Investor 14-03-23
- BacTech Environmental Announces $1Million Private Placement; Retains MARS Investor Relations in Final Funding Push for Bioleaching Gold Recovery Plant Construction 13-03-23