BacTech Environmental Corporation (CSE: BAC) (OTC: BCCEF) (FSE: 0BT1), a well-established environmental technology company specializing in environmentally friendly bioleaching and remediation solutions for the recovery of precious metals and critical minerals, announced today its plan to conduct a non-brokered unit financing to secure capital for its proposed bioleach processing facility in Tenguel, Ecuador.
The company aims to raise up to $1.0 million through this offering. Each unit, priced at $0.08, will comprise one common share and one half of a common share purchase warrant. A whole warrant will enable the holder to acquire an additional common share at $0.12 within a two-year period from the closing of the financing.
“Following the receipt of the final permit from the Ecuadorian government, we are seeking equity to fund deposits on equipment with longer lead times, such as impellers and stainless steel, as well as working capital until the $20 million Green Bond is finalized,” stated Ross Orr, BacTech’s President, and CEO.
Interested parties are encouraged to express their interest in the financing directly to BacTech. BacTech remains committed to achieving the Company’s environmental and social objectives while delivering long-term value to BacTech’s shareholders and stakeholders.
About the Tenguel – Ponce Enriquez Bioleaching Project
BacTech plans to construct an owner-operated bioleaching facility in Tenguel, Ecuador, a region known for its association with arsenic in sulphide gold ore (Arsenopyrite). The company intends to build a 50 tpd bioleach plant capable of treating high gold/arsenic material. Such a plant, processing feed with 1.75 ounces of gold per tonne, similar to what local miners provide, would yield approximately 31,000 ounces per year. The modular plant designs allow for expansion without disrupting ongoing production. BacTech has also signed an agreement with the government for a Phase 2 plant that would add 150-200 tpd of capacity, producing more than 100,000 ounces per annum.
Key economic highlights, assuming a base gold price of $1,600 per ounce, include:
The area hosts over 100 small mines, and BacTech is actively exploring the possibility of establishing modern bioleaching facilities in other regions of Ecuador, Peru, and Colombia. The company aims to collaborate with national and local governments, non-governmental organizations (NGOs), and other stakeholders to fund these projects and ensure adherence to high environmental and ESG (Environmental, Social, and Governance) standards.
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.
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