Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • BacTech Environmental Corporation (BAC) has announced a non-brokered private placement for gross proceeds of up to $3,000,000
  • Units will be priced at $0.20
  • The company will offer a royalty to offering participants once the Tenguel – Ponce Enriquez facility in Ecuador is fully operational
  • Net proceeds from the offering will be used for ongoing working capital, land acquisition and for advancing the Tenguel – Ponce Enriquez, Ecuador bioleaching project
  • The offering is expected to close on or about February 28, 2022
  • BacTech is an environmental technology company, delivering bioleaching and remediation solutions
  • BacTech Environmental Corporation (BAC) is currently trading at C$0.115 per share

BacTech Environmental Corporation (BAC) has announced a non-brokered private placement for gross proceeds of up to $3,000,000.

The company will issue units priced at $0.20. Units will consist of one common share and one transferable share purchase warrant. Each warrant will entitle the holder to acquire one additional share at a price of $0.30 for 24 months after the closing date of the offering. Units will also include a transferable royalty certificate.

The company will offer a royalty to offering participants once the Tenguel – Ponce Enriquez facility in Ecuador is fully operational. This royalty will be based upon the revenues generated by the facility. For each $1.0 million raised in the offering, the company will offer a 0.5 per cent royalty.

Based on the updated feasibility study, it’s estimated that a holder of a royalty certificate would receive $3,532 paid annually for each $10,000 invested.

“Our updated feasibility study illustrates the significant long-term investment potential that this project represents for all shareholders,” said Ross Orr, President and CEO.

“The projected margins are exceptional, giving us the flexibility to structure a deal that we believe will inject capital into the company.” 

Net proceeds will be used for ongoing working capital, land acquisition and for advancing the Tenguel – Ponce Enriquez, Ecuador bioleaching project.

The common shares and warrants will be subject to a statutory four-month hold period.

The offering is expected to close on or about February 28, 2022, and is subject to the approval of the CSE.

BacTech is an environmental technology company, delivering bioleaching and remediation solutions to process and recover preferred metals (gold, silver, cobalt, and copper) and remove and transform harmful contaminants like arsenic into benign EPA-approved products for landfill. 

BacTech Environmental Corporation (BAC) is currently trading at C$0.115 per share.

More From The Market Herald

" Plant&Co (CSE:VEGN) closes first tranche of non-brokered private placement

Plant&Co (VEGN) has closed the first tranche of its non-brokered private placement of convertible debentures for gross proceeds of $1,295,000.

" FireFox Gold (TSXV:FFOX) closes first tranche of non-brokered private placement

FireFox Gold Corp. (FFOX) has closed the first tranche of a non-brokered private placement for gross proceeds of $452,010.

" Starcore (TSX:SAM) announces $1.2M private placement

Starcore International Mines (SAM) has announced a non-brokered private placement for gross proceeds of up to $1,200,000.