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BacTech Signs Letter of Intent to Sell a Portion of it’s Annual Silver Production to Silver Crown

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BacTech Signs Letter of Intent to Sell a Portion of it’s Annual Silver Production to Silver Crown






Adds $4 Million in Assets to Balance Sheet


BacTech Environmental Corporation (CSE:BAC) (OTCQB:BCCEF) (FRA:0BT1)  has announced the signing of a Letter of Intent with Silver Crown Royalties for the sale of a portion of its anticipated annual silver production. The silver will be produced as a by-product of its planned bioleach gold production in Tenguel, Ecuador.

Under the terms of the LOI, BacTech will deliver 90%, but no less than 35,000 ounces of silver per annum for a period of ten years. The key terms of the agreement are outlined as follows:

  1. C$1.0 million worth of SCRI units upon execution of the definitive agreement. Each unit will consist of one common share of SCRI and one 3-year warrant. The first tranche will be 2,000,000 shares and 2,000,000 common share purchase warrants (exercise price is $0.80 for 3 years).
  1. C$1.0 million worth of SCRI shares upon successful completion of the financing to build the   Tenguel plant. For the subsequent issuances, the price of issuance will be $0.50 or the trailing Volume Weighted Average Price of the Common Shares, whichever is greater.
  1. C$1.0 million worth of SCRI shares at the onset of construction.
  1. C$1.0 million worth of SCRI shares at the commencement of production.


The transaction is subject to due diligence and the signing of a definitive agreement, with the closing expected within the next three months. SCRI shares are anticipated to listed to trade in the third quarter of this year. It is expected that each tranche will have a 4-month hold period.

monetize it and add $4.0 million in assets to the Company’s balance sheet. At current silver prices (~US$30), the expected annual revenue for the first phase is approximately $1,050,000, accounting for 1.3% of total revenues. Essentially, as long as we hold the shares in SCRI, we will remain exposed to any increases in the price of silver,” concluded Ross Orr, President and CEO of BacTech.

BacTech anticipates gold production ranging between 31,000 and 35,000 ounces per annum, along with silver production ranging between 45,000 and 50,000 ounces from the project’s first phase. The second phase, expected to increase throughput fourfold, will significantly boost the production of both metals.

BacTech continues to work with interested parties to finance the construction of the plant. All of the necessary permits have been issued including the Environmental Impact Study and the Consultation permit. Construction time is estimated to be 12-14 months from receipt of the funding.

About BacTech Environmental Corporation

BacTech Environmental Corporation is a company that specializes in environmental technology. We use a process called bioleaching 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.

About Silver Crown Royalties

Founded by industry veterans, SCRi is a pre-IPO stage revenue-generating silver-only royalty company focusing on silver as byproduct credits. SCRi aims to minimize the economic impact on mining projects while maximizing returns for shareholders. SCRi presently has two sources of revenues and continues to build on this foundation, targeting additional operational silver-producing projects.

Stock Option Grant

Additionally, pursuant to the Company’s Stock Option Plan, the Company has granted on May 31, 2024, stock options to certain directors, officers, and employees to purchase an aggregate of 1,900,000 common shares of the Company at an exercise price of $0.10 per Optioned Share for a period of five years from the date of grant. Some of these options replace previously granted, now expired, options. Subsequent to the grant of such Options, an aggregate amount of 4,453,883  common shares of the Company remains available for issuance under the Company’s stock option plan. Total options outstanding

Posted June 1, 2024

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