BacTech Closes Additional Tranche of Private Placement
Get Alerts BAC Hot Sheet
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 2.8%
EPS Growth %: -11.7%
Join SI Premium – FREE
TORONTO, CANADA -- (Marketwired) -- 08/15/16 -- BacTech Environmental Corporation ("BacTech" or the "Company"), (CSE: BAC)(OTC PINK: BCCEF)(WKN: A1H4TY), today announced that it has completed an additional closing for the CAD$500,000 private placement announced on May 31, 2016.
BacTech will continue to announce closings as they occur. The current tranche was for $308,000 and resulted in the issuance of 7,700,000 common shares and 7,700,000 warrants. The warrants are exercisable at $0.10 for 2 years from closing. This brings the total amount raised for the $500,000 private placement to $369,000.
With the proceeds raised to date, the Company will initiate the drill program at the Telamayu tailings project in Bolivia to provide fresh material for assays of gold, silver, copper, tin and rare earths, as well as metallurgical studies as outlined in the Company's press release dated July 6, 2016.
Company Profile
BacTech Environmental Corporation holds the perpetual, exclusive, royalty-free rights to use the patented BACOX bioleaching technology for the reclamation of tailings and mining waste materials. The Company's principle focus is a high-grade silver/copper tailings project called Telamayu, located in Atocha, Bolivia, in association with COMIBOL, the state mining group. The Company signed an MOU with Duran Ventures Inc. to explore the viability of building a BACOX plant in Peru to treat high-grade gold/arsenic ores. Investigation has begun to identify similar opportunities in Ecuador. The Company continues to field enquiries globally with respect to additional opportunities for remediation, including licensing transactions for the technology.
Follow us on:
Facebook http://www.facebook.com/BacTechGreen
Twitter http://twitter.com/BacTechGreen
LinkedIn http://www.linkedin.com/company/1613873
Vimeo http://vimeo.com/bactechgreen
YouTube http://www.youtube.com/user/bactechgreen
Shares outstanding 51,618,944
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
Contacts: BacTech Environmental Corporation Ross Orr President & CEO 416-813-0303 ext 222 [email protected] BacTech Environmental Corporation Bill Mitoulas Investor Relations 416-479-9547 [email protected]
Source: BacTech Environmental Corporation
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Midday movers: Meta, IBM, Caterpillar fall; Chipotle rises
- Macerich Celebrates Earth Month With ‘You Pledge We Plant’ Campaign, Industry Recognition
- Bread Financial Holdings, Inc. (BFH) Provides Performance Update for March 2024
Create E-mail Alert Related Categories
Press ReleasesRelated Entities
TwitterSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!