BacTech Announces Private Placement – Provides Update on Telamayu Tailings
Toronto, Canada, December 15, 2016 – BacTech Environmental Corporation (“BacTech” or the “Company”), (CSE: BAC, OTC Pink: BCCEF) today announced that it will conduct a non-brokered capital raise of up to CAD$200,000 for working capital.
Each unit, priced at 5 cents per unit, consists of one common share and one half of a non-transferable common share purchase warrant. One full warrant entitles the holder to purchase one common share at a price of CAD$0.10 for a period of 2 years from the date of closing. The common shares and warrants are subject to a four-month hold period.
A lead order has been received for CAD$100,000. Prospective investors should contact the Company directly or by email to learn more about the capital raising and the ability to participate.
The Company also wishes to announce that 7 holes have been completed in the Antiguo tailings area, with very good recoveries being noted. The holes are intersecting the underlying native riverbed material approximately 12 metres below surface. The drill crew and geologists will break for the holiday season on December 23, and resume drilling on January 3, 2017. Initial assay results should start to flow in January.
The Company has posted pictures from the drill campaign on social media. Please visit our Facebook and Twitter profiles for updates:
BacTech Environmental Corporation holds the perpetual, exclusive, royalty-free rights to use the patented BACOX bioleaching technology for the reclamation of tailings and mining waste materials. The Company’s principle focus is a high-grade silver/copper tailings project called Antiguo, located in Telamayu, Bolivia, in association with COMIBOL, the state mining group. The Company signed an MOU with Duran Ventures Inc. to explore the viability of building a BACOX plant in Peru to treat high-grade gold/arsenic ores. Investigation has begun to identify similar opportunities in Ecuador. The Company continues to field enquiries globally with respect to additional opportunities for remediation, including licensing transactions for the technology.
For further information contact:
Ross Orr, President & CEO
BacTech Environmental Corporation
416-813-0303 ext 222
Bill Mitoulas, Investor Relations
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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 by the use of 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 as a result 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 55,618,944
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.