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BacTech Environmental Establishes Sustainable Bond Framework to Finance Ecuador Bioleach Project
TORONTO, CANADA – TheNewswire - July 24, 2023 – BacTech Environmental Corporation (CSE:BAC), (OTC:BCCEF), (FSE:0BT1) (“BacTech” or the “Company”), a commerciall
About this update from Bactech Environmental Corp.
[{"type":"text","content":"TORONTO, CANADA – TheNewswire - July 24, 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 it has launched a new Sustainable Bond Framework for the issuance of green and social bond offerings. Quoting from Moody’s public release of today (July 24), “We have assigned an SQS2 sustainability quality score (very good) to BacTech Environmental Corporation’s (BacTech) sustainable bond framework dated July 2023, which will finance two green eligible categories and two social eligible categories. The framework is aligned with the four core components of the International Capital Market Association’s (ICMA) Green Bond Principles (GBP) 2021 (with June 2022 Appendix 1) and Social Bond Principles (SBP) 2023. The framework demonstrates a significant contribution to sustainability.” (Contact the Company for a copy of the full report) Proceeds from such offerings will finance BacTech’s bioleaching facility construction and program development in Tenguel, Ecuador for the liberation of gold and silver from concentrates containing high levels of arsenic and will be allocated to support four eligible project investment areas including pollution prevention and control; sustainable water and wastewater management; socioeconomic advancement and empowerment; and generation of decent and inclusive employment. “The Sustainable Bond Framework is an important and powerful financial instrument that will help BacTech open doors and access a global pool of sustainable investors interested in financing environmental and social projects,” said Ross Orr, President, and CEO of BacTech Environmental. “This framework will help kick start our near-term bioleach facility financing opportunities, while showcasing the sustainable benefits and socioeconomic contributions that BacTech can make at the community level – from water conservation and helping prevent acid mine drainage, to creating local opportunities for work, training, development, and the start of a new ‘green metal’ industry. I would also like to commend Sequestr for managing the SPO process quickly and efficiently on our behalf.” Further details on investment opportunit...