Business
BacTech Engages Analytica Securities to Raise $US20M in Green/Social Bonds for the Tenguel Project
Toronto, Canada - TheNewswire - July 26, 2023 - BacTech Environmental Corporation (CSE:BAC) (OTC:BCCEF) (FSE:0BT1) (“BacTech” or the “Company”), a commercially
About this update from Bactech Environmental Corp.
[{"type":"text","content":"Toronto, Canada - TheNewswire - July 26, 2023 - BacTech Environmental Corporation (CSE:BAC) (OTC:BCCEF) (FSE:0BT1) (“BacTech” or the “Company”), a commercially proven environmental technology company today announced a significant step forward in the Company’s commitment to providing innovative eco-friendly bioleaching and remediation solutions for precious metal and critical mineral recovery. Today, BacTech is pleased to share that the Company has engaged Analytica Securities, a reputable Quito-based Securities firm known for its expertise in macroeconomic and financial consulting, corporate finance, M&A, debt structuring, stock brokerage, portfolio management, and trust business management. Analytica Securities will play a crucial role in marketing BacTech’s proposed $US20M Green/Social Bond offering. The primary purpose of this bond offering is to raise funds for the construction and program development of BacTech's bioleaching facility in Tenguel, Ecuador. This facility will focus on the treatment of gold and silver containing high levels of arsenic, demonstrating the Company’s continued dedication to sustainable practices in the mining industry. In line with BacTech’s commitment to make a positive impact on both the environment and local communities, the proceeds from the bond offering will be allocated to four eligible project investment areas. These include pollution prevention and control, sustainable water and wastewater management, socioeconomic advancement and empowerment, and the generation of decent and inclusive employment opportunities. To ensure transparency and adherence to global best practices, BacTech has recently launched the Company’s Sustainable Bond Framework for issuing Green and Social bonds. This framework aligns with the International Capital Market Association's (ICMA) Green Bond Principles (GBP) 2021 and Social Bond Principles (SBP) 2023. Additionally, the Company is proud to have received an independent Second Party Opinion (SPO) from Moody’s Investors Service (Moody’s), awarding BacTech a Sustainability Quality Score of SQS2 (Very Good), recognizing the Company’s significant contribution to sustainability. \"We are excited to pursue this financing opportunity with the support of Analytica, and we estimate that $16M of the $20M raised will be allocated to the capital portion of the bioleaching f...