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BACTECH CLOSES OVERSUBSCRIBED UNIT FINANCING

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BACTECH CLOSES OVERSUBSCRIBED UNIT FINANCING

 

 

 

 

 

Exceeds Initial Goal of $1M by 26.6%

 

BacTech Environmental Corporation (CSE: BAC) (OTCQB: BCCEF) announced the oversubscribed final closing of its unit financing. As of today, subscription agreements totaling $1,266,000 have been received, surpassing the original goal of raising $1 million in total for the financing. The final amount raised by the third tranche totaled $610.000. BacTech will issue 12,200,000 common shares and 12,200,000 common share purchase warrants in this closing. The total shares issued under all three closings equals 25,320,000 common shares and an equal amount of common share purchase warrants. The Company paid $12,800 in finder’s fees and issued 256,000 finder’s warrants. Insiders of the Company purchased 1,384,000 units for gross proceeds of $69,200.

 

Each unit consists of one common share of BacTech and one, two-year warrant exercisable at $0.10. The warrant includes an acceleration clause. In the event the common shares trade at or above $0.20 for 10 consecutive trading days, as indicated on the CSE Exchange, the Company shall have give notice by way of a press release that the Warrants’ expiry date will expire 20 trading days thereafter. The announcement of the financing was contained in a press release dated February 28, 2025.

 

“We are very pleased with the response to this oversubscribed financing.We welcome all of the new shareholders who share our vision for sustainable mining. A portion of this financing will be used to conduct additional testing for the “0 Waste” patent that was filed in early April. The concept of mineral processing that produces zero tailings is truly unique. By turning two long term liabilities in tailings, iron and sulphur, into revenue producing products will dramatically alter the economics of any project,” stated Ross Orr, President and CEO of BacTech.

 

About BacTech Environmental Corporation

 

BacTech Environmental Corporation is a company that specializes in environmental technology. We use bioleaching (also known as bacterial oxidation) to recover metals like gold, silver, cobalt, nickel, and copper, while also safely removing harmful contaminants like arsenic. This process is eco-friendly and uses naturally occurring bacteria that are safe for both humans and the environment. By using our proprietary method of bioleaching, we can neutralize toxic concentrates and tailings while also creating profitable opportunities. The company is publicly traded on several stock exchanges, including the CSE, OTCQB, and Frankfurt Stock Exchange.

Posted May 25, 2025

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