BacTech Closes Non-Brokered Private Placement
Toronto, Canada, December 7 2018
BacTech Environmental Corporation (“BacTech” or the “Company”) (CSE:BAC, USOTC:BCCEF) today announced that it has closed a non-brokered private placement for proceeds of CDN$220,000. The proceeds will be used to advance the Telamayu Tailings project in Atocha, Bolivia and for general working capital. The Company sold a $0.025 unit consisting of one common share of the Company plus a full common share purchase warrant exercisable for 2 years from closing at $0.05 per share. Qualified investors interested in participating in the financing are encouraged to contact the Company directly at the numbers set out below.
Last month, (November 2, 2018) BacTech released the results of metallurgical test work program that was undertaken at Met-Solve Labs in Vancouver, Canada. The results have identified 2 different flow sheets for metal recovery. One is based on using flotation to produce a concentrate for brine leaching. In this approach roughly 60% of the silver is recovered along with 80% of the copper. The 2nd approach is a whole-ore process that will recover approximately 80% of the silver (and 80% Cu) but it is likely to come at a higher capital expenditure than the flotation route.
“The met work was an important step in the process towards production. The next phase is a precursor to the final engineering for the project. Remember that the project involves a retrofit of an existing mill and comes with considerable infrastructure such as power and rail.” said Ross Orr, President and CEO of the Company.
BacTech’s Dr. Paul Miller is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the content of this news release.
The Telamayu project involves the environmental remediation of the “Antiguo” tailings with an option on the larger “Nuevo” tailings, both situated at the Telamayu Mill site near the town of Atocha in the Department of Potosi, Bolivia.
The existing Telamayu mill concentrator has generated the Antiguo and Nuevo tailings by processing mineralized material from the surrounding mines for over 80 years. There is considerable infrastructure at the mill site including high voltage power, rail, mill housing, and a local workforce.
A second project entails BacTech investigating the use of bioleach processing to treat historic arsenic tailings and possibly arsenopyrite concentrates produced in the Ponce Enriquez area of Southern Ecuador.
For further information contact: Ross Orr, President & CEO, BacTech Environmental Corporation/ 416-813-0303 ext. 222, Cell 416-346-5529 and
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: 89,143,756
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.