There are thousands of abandoned mines and sites around the world that display unbelievably high levels of contamination from toxins used in and extracted during the mining process. BacTech Environmental Corporation will apply their patented BACOX bioleaching technology to the processing of toxic, arsenic-laden mine tailings. An added benefit of bioleaching, in addition to stabilizing arsenic and capturing heavy metals, is that it oxidizes sulphides in mine tailings, thereby eliminating a major source of acid mine drainage. The technology also recovers precious and base metals from tailings for sale to market. Bioleaching is an environmental clean up solution that also creates a profit.



 

Latest News Release

Bactech Closes $300,000 Debenture Financing

 

Bactech Environmental Corp. has closed its current debenture financing for total gross proceeds of $445,000 for the debenture, accompanied by 1.78 million common shares, which are included as a bonus equity interest. The debenture has a two-year term and pays 12-per-cent interest yearly. The debenture included a 20-per-cent common stock bonus payment. For example, a $10,000 debenture would be accompanied by $2,000 worth of Bactech common shares priced at five cents per share. This would provide the investor with 40,000 common shares subject to a four-month restriction on resale from the date of closing.

 

Bactech also announces a new non-brokered debenture financing, accompanied by 1,000,500 warrants and a 1.25-per-cent net smelter royalty (as more fully described herein) is offered by private placement in accordance with applicable prospectus exemptions, for total gross proceeds of $300,000. The use of proceeds is to continue metallurgical test work on the Telamayu tailings near Atocha, Bolivia, and for preliminary engineering of a proposed plant to be built at site.

 

The terms of the new debenture are as follows: The debenture is issued in denominations of $5,000 and must be repaid at the end of two years; interest is earned at a rate of 12 per cent per year paid annually; and the debenture is accompanied by 16,675 common share purchase warrants of the corporation, with each warrant having an exercise price of five cents for a period of five years. As an additional consideration for the subscription of the debentures, a 1.25-per-cent net smelter royalty for the life of the Antiguo tails estimated to be five years (the new debenture, the accompanying warrants and the net smelter royalty being comprised in a unit of this new debenture offering). The net smelter royalty shall be paid on a pro rata basis over the aggregate number of the new debentures. The net smelter royalty is only payable on Bactech's share of the revenue generated by the project. The debentureholder will close with three separate tranches of $100,000 (20 units), with the initial tranche paid on the closing, which occurred on Aug. 14, 2017, for gross proceeds of $100,000 and the issuance of 333,500 warrants. Each of the next two tranches will be closed within 30 days and 60 days after this initial closing in order to complete this financing.

 

Finally, the company announced that it has issued 4.05 million shares for debt to certain management and suppliers of the company. The deemed price of the issuance was five cents per share.

 

About Bactech Environmental Corp.

 

Bactech Environmental 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 principal focus is a high-grade silver/copper/tin tailings project called Telamayu, located in Atocha, Bolivia, in association with Comibol, the state mining group.

 

 

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This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment.

 

Richard Mills has based this document on information obtained from sources he believes to be reliable but which has not been independently verified.

 

Richard Mills makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of Richard Mills only and are subject to change without notice. Richard Mills assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission.

 

Furthermore, I, Richard Mills, assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information provided within this Report.

 

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