(TheNewswire)
Toronto, ON - TheNewswire - June 15 , 2023 - BacTech Environmental Corporation (CSE:BAC ) ( OTC: BCCEF ) ( FSE:0BT1) (“ BacTech ” or the “ Company ”), a commercially provenenvironmental technology company delivering eco-friendly bioleachingand remediation solutions for precious metal and critical mineralrecovery, today announced that Moneta Advisory Partners, LLC(“Moneta”), co-founded by and , has been engaged.Through its "Venture Evangelism"platform, Moneta will collaborate with BacTechto launch a multi-channel content production and investor awarenessprogram, helping to expand industryrelationships and market visibility for BacTech and its developing projects.
“We had the good fortune to recently meet with Rossat an industry conference where we learned more about BacTech’sproprietary bioleaching technology,” said Marc LoPresti, Co-Founderof Moneta Advisory Partners. “We were impressed with the Company’svision, investment potential and unfolding plans for the bioleachingand gold recovery facility in Ecuador. This is a great fit forMoneta’s global network.”
Marc LoPresti is a Wall Street veteran with over 25years of experience in alternative investments, having started hiscareer on the floor of the NYSE working for Lehman Brothers. He iscurrently co-founder and managing director of IDI Group, co-founderand managing director of Moneta Advisory Partners, co-founder andboard member of BattleFin Group, managing director of The StrategicFunds, and co-founder of The Zombie Collective, LLC. He is regularlyon CNBC, CoindeskTV, TD Ameritrade Network, Sirius XM Radio,Bloomberg, and Fox. Mr. LoPresti has been quoted in numerouspublications including Forbes, Reuters, the Wall Street Journal,Investor's Business Daily, and Barron's.
Jon Najarian began his career as a member of the CBOE,NYSE, CME and CBOT and worked as a floor trader for some 25 years. Jonnow invests in and works with start-ups via Rebellion Partners, aventure consulting firm he co-founded. He also co-founded MarketRebellion, a company focused on educating the individualinvestor. Jon is also co-founder of MonetaAdvisory Partners, LLC, and an investor and senior advisor to IDIGroup. Formerly, Jon was a 16-year contributor to a variety of CNBCprograms including Worldwide Exchange, The Halftime Report, FastMoney, and Power Lunch. Today, Jon appears on Fox Business and MarketRebellion’s exclusive, regularly scheduled shows on Market RebellionTV.
As consideration for the provision of the services, andin accordance with the terms and provisions of the Agreement, theCompany proposes to (i) issue 500,000 Common Share Purchase Options(“Options ”) at a deemed issue price of $.10 per share to Moneta,a private company pursuant to a Shares for Services Agreement datedJune 12, 2023, and (ii) an additional 500,000 Options exercisableat $0.20 per share for a period of two (2) years from the date ofgrant. The Options will vest in stages over a twelve (12) month periodwith 100,000 Options vesting every month for 10 months following thegrant date.
About the Tenguel – Ponce EnriquezBioleaching Project
BacTech is planning to build a new owner-operatedbioleaching facility in Tenguel, Ecuador, in a region where arsenic isassociated with sulphide gold ore (Arsenopyrite). The Company’s planis to build a 50 tpd bioleach plant capable of treating highgold/arsenic material. A 50 tpd plant, processing feed of 1.75 ouncesof gold per tonne, similar to feeds available to the Company from local miners, would produce approximately 31,000ounces per year. Plant designs are modular and can be expanded withoutaffecting ongoing production. The total concentrate market in thePonce Enriquez area is estimated to be between 200 and 250 tonnes perday, allowing for increased throughput potential with a larger plant.BacTech has signed an agreement with the government to build a Phase 2plant that would see the addition of 150-200 tpd of capacity capableof producing in excess of 100,000 ounces per annum.
Key economic highlights, assuming a base gold price @$1,600 per ounce:
• Pre-tax NPV (Net Present Value with 5%discount rate) of $60.7M
• Pre-tax IRR (Internal Rate of Return) of57.9%
• Annual Gold Production of 30, 900ounces
• Capital Cost of $17.0M
• Bioleach Operating Cost of $212 pertonne
• Pre-tax Earnings Prior to Employee Bonus– $10.9M annually
• Estimated local employee bonus pool –$1.64M
In total, there are over 100 small mines operating inthe area. BacTech continues to investigate the prospects ofestablishing additional modern bioleaching facilities across otherareas of Ecuador, Peru, and Colombia. Where possible, the Company willpartner with national and local governments, non-governmentalorganizations (NGOs) and others to assist with the funding of theseprojects and ensure that they meet the Company’s high expectationsnot only for environmental standards, but also for the higheststandards in all ESG considerations.
About BacTech EnvironmentalCorporation
BacTech Environmental Corporation is a company thatspecializes in environmental technology. We use a process calledbioleaching to recover metals like gold, silver, cobalt, nickel, andcopper, while also safely removing harmful contaminants like arsenic.This process is eco-friendly and uses naturally occurring bacteriathat are safe for both humans and the environment. By using ourproprietary method of bioleaching, we are able to neutralize toxicconcentrates and tailings while also creating profitableopportunities. The company is publicly traded on several stockexchanges, including the CSE, OTCQB, and Frankfurt StockExchange.
For further informationcontact:
Ross Orr
President & CEO, BacTech EnvironmentalCorporation
416-813-0303 ext. 222,
Email: borr@bactechgreen.com
Website: https://bactechgreen.com/
Investor Presentation: https://bactechgreen.com/investors/
Vimeo http://vimeo.com/bactechgreen
Disclaimer: Stated goals of raising US$20 million tofinance planned construction of the project in no way guaranteesprocess approval.
Special Note Regarding Forward-LookingStatements
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.
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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