Business
BacTech Environmental Provides Corporate Update
Toronto, ON - TheNewswire - June 16, 2023 - BacTech Environmental Corporation (CSE:BAC) (OTC:BCCEF) (FSE:0BT1) (“BacTech” or the “Company”), a commercially prov
About this update from Bactech Environmental Corp.
[{"type":"text","content":"Toronto, ON - TheNewswire - June 16, 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, is pleased to provide the following corporate update. Financing The Company today announces the closing of a 3rd tranche of its recent placement for $132,000. The financing includes the issuance of 1,650,000 units consisting of one (1) common share of BacTech and one (1) common share purchase warrant. The warrant allows the holder to purchase an additional common share in the Company at $0.12 for a period of two (2) years from the closing. Green Bond Certification Further to the Company’s selection of Moody’s to provide third-party verification of BacTech as a qualified Green Bond issuer, BacTech confirms it has tendered all necessary documentation to Moody’s with respect to the Company’s pursuits of Green Bond certification. As previously announced in its April 13, 2023 press release, the Company has started the process to obtain the appropriate certification to be able to issue Green Bonds to fund its bioleach processing facility in Tenguel, Ecuador. BacTech, in concert with Analytica Securities in Quito, Ecuador, intends to raise up to US$20M in Green Bond funding. Community Consultation Process Update BacTech also wishes to advise shareholders that the Company has been notified that the Government of Ecuador will officially begin the final review process on June 19, 2023. As previously communicated in its June 1, 2023 press release, this is the final major permit required to approve the Company’s planned project in Tenguel, Ecuador. Upon completion, the facility is expected to be the largest and most efficient bioleaching plant in South America using naturally occurring bacteria, harmless to both humans and the environment, to treat gold and base metal concentrates along with toxic tailings created through local mining operations. BacTech was granted its Environmental Impact Study Permit in September 2022, further illustrating the government’s commitment to the launch of this important project. About the Tenguel – Ponce Enriquez Bioleaching Project BacTech is planning to build a new owner-operated bioleaching facility in T...