(TheNewswire)
Toronto, ON - TheNewswire - March 14, 2023 - BacTech EnvironmentalCorporation (CSE:BAC ) ( OTC:BCCEF ) ( FSE:0BT1) (“ BacTech ” or the“ Company ”), a commercially proven environmental technology company delivering eco-friendlybioleaching and remediation solutions for precious metal and criticalmineral recovery , ispleased to report that the Company has closed a $250,0000 Convertible Debenture with an existing strategicinvestor who previously completed a $1.0 million convertible debentureon 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 untilSeptember 4, 2024. The terms call for a conversion at$0.15 per share, at an annual interest rate of 8%. Thedebenture extension was agreed to by the debenture holder for a 1%royalty of the Company’s Ecuador project -- the same royalty asannounced for the May 5, 2022, and February 28, 2022, privateplacements. The Company also notes an additional $6,600 was closedthrough the issuance of 100,000 shares on the previously announcedprivate placement which closed on December 12, 2022.
About BacTech EnvironmentalCorporation
BacTech is a proven environmental technology company,delivering effective and eco-friendly bioleaching and remediationsolutions to commercial operations to process and recover preferredmetals (gold, silver, cobalt, nickel and copper) smartly and safelyremove and transform harmful contaminants like arsenic into benignEPA-approved products for landfill. Tapping into numerousenvironmental and economic advantages of its proprietary method ofbioleaching, BacTech uses naturally occurring bacteria, harmless toboth humans and the environment, to neutralize toxic mining sites withhigh-pay potential. BacTech is publicly traded on the CSE under thesymbol “BAC”; on the OTCQB as “BCCEF”; and the Frankfurt StockExchange as “0BT1”.
For further information contact:
President & CEO, BacTech Environmental Corporation
416-813-0303 ext. 222,
Email: borr@bactechgreen.com
Website: https://bactechgreen.com/
Investor Presentation: https://bactechgreen.com/investors/
Vimeo http://vimeo.com/bactechgreen
Special Note Regarding Forward-Looking Statements
This news release contains “forward-lookinginformation”, which may include, but is not limited to, statementswith respect to future tailings sites, sampling or otherinvestigations of tailing sites, the Company’s ability to make useof infrastructure around tailings sites or operating performance ofthe Company and its projects. Often, but not always, forward-lookingstatements can be identified using words such as “plans”,“expects”, “is expected”, “budget”, “scheduled”,“estimates”, “forecasts”, “intends”, “anticipates”, orbelieves” or variations (including negative variations) of suchwords and phrases, or state that certain actions, events or results“may”, “could”, “would”, “might” or “will” betaken, occur or be achieved. Forward-looking statements involve knownand unknown risks, uncertainties and other factors which may cause theactual results, performance, or achievements of the Company to bematerially different from any future results, performance orachievements expressed or implied by the forward-looking statements.Forward-looking statements contained herein are made as of the date ofthis news release and the Company disclaims, other than as required bylaw, any obligation to update any forward-looking statements whetherbecause of new information, results, future events, circumstances, orif management’s estimates or opinions should change, or otherwise.There can be no assurance that forward-looking statements will proveto be accurate, as actual results and future events could differmaterially from those anticipated in such statements. Accordingly, thereader is cautioned not to place undue reliance on forward-lookingstatements.
Shares outstanding:174,210,406
The Canadian Securities Exchange (CSE) has not reviewedand does not accept responsibility for the adequacy or the accuracy ofthe contents of this release.
This press release does not constitute an offer to sellor a solicitation of an offer to buy any of the shares, nor is it asolicitation of interest from a prospective investor.
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