BacTech Environmental Corporation (CSE: BAC) (OTCQB: BCCEF) (FSE: 0BT1) a commercially proven environmental technology company delivering eco-friendly bioleaching and remediation solutions for precious metal and critical mineral recovery, is pleased to report that the Company has closed a $250,0000 Convertible Debenture with an existing strategic investor who previously completed a $1.0 million convertible debenture on April 21, 2022.
The convertible debenture terms are the same as the prior debenture, now with the full principal balance of $1.25 million not due until September 4, 2024. The terms call for a conversion at $0.15 per share, at an annual interest rate of 8%. The debenture extension was agreed to by the debenture holder for a 1% royalty of the Company’s Ecuador project — the same royalty as announced for the May 5, 2022, and February 28, 2022, private placements. The Company also notes an additional $6,600 was closed through the issuance of 100,000 shares on the previously announced private placement which closed on December 12, 2022.
About BacTech Environmental Corporation
BacTech is a proven environmental technology company, delivering effective and eco-friendly bioleaching and remediation solutions to commercial operations to process and recover preferred metals (gold, silver, cobalt, nickel and copper) smartly and safely remove and transform harmful contaminants like arsenic into benign EPA-approved products for landfill. Tapping into numerous environmental and economic advantages of its proprietary method of bioleaching, BacTech uses naturally occurring bacteria, harmless to both humans and the environment, to neutralize toxic mining sites with high-pay potential.
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We acknowledge the [financial] support of the Government of Canada.