(via TheNewswire)
Unique Offering Includes Royalty Payments to Purchasers
TORONTO, ON –TheNewswire -
is pleased to announce a non-brokered private placement offering (the “Offering”) of units (the “Units”) for maximum gross proceeds of
The issue price of the Units will be
Royalty Incentive
The Company will offer a royalty to participants, once the Tenguel - Ponce Enriquez facility in
Assumptions, based on the updated Feasibility Study, suggest an amount of
The Company will increase the aggregate Royalty payments by an additional 0.50% per
“Our updated Feasibility Study illustrates the significant long-term investment potential that this project represents for all shareholders,” said
The net proceeds of the Offering will be used by the Company for ongoing working capital, land acquisition and the Company’s capital contribution for advancing the Company’s Tenguel – Ponce Enriquez,
The Common Shares and the Warrants will be subject to a statutory four month hold period under the applicable securities laws and in such case the certificates evidencing the Shares and the Warrants will bear a legend to that effect, as applicable. Closing of the Private Placement Offering is expected to occur on or about February 28, 2022, and is subject to certain conditions, including but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the CSE.
The Units will be offered and sold by private placement in Canada to "accredited investors" within the meaning of Regulation 45-106 respecting Prospectus Exemptions and other exempt purchasers in each province of Canadaand such other jurisdictions within and outside of
About the Tenguel –
BacTech is planning to build a new owner-operated bioleaching facility in Tenguel, near Ponce Enriquez,
Key Economic Highlights:
Pre-tax NPV (Net Present Value with 5% discount rate) of
$60.7M Pre-tax IRR (Internal Rate of Return) of 57.9%
Annual Gold Production of 30, 900 ounces
Capital Cost of
$17M Bioleach Operating Cost of
$212 per tonneAssumed Purchase Prices of Concentrate – 65% of the contained gold value
Pre-tax Earnings Prior to Employee Bonus –
$10.9M annuallyEstimated local employee bonus pool –
$1.64M Payback (70% DEBT) – 2 years
In total, there are over 90 small mines operating in the area. BacTech intends to return local miner compensation back to previous payment levels, prior to a sweeping price reduction imposed by Chinese buyers due to recent import levies on arsenic/gold concentrates entering
About
BacTech is a proven environmental technology company, delivering effective and eco-friendly bioleaching and remediation solutions to commercial operations to process and recover preferred metals (gold, silver, cobalt, and copper) smartly and safely remove and transform harmful contaminants like arsenic into benign
For further information contact:
President & CEO,
416-813-0303 ext. 222,
Email: borr@bactechgreen.com
Website: https://bactechgreen.com/
Investor Presentation:https://bactechgreen.com/investors/
Follow us on:
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Special Note Regarding Forward-Looking Statements
This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to future tailings sites, sampling or other investigations of tailing sites, the Company’s ability to make use of infrastructure around tailings sites or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified using words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether because of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events coulddiffer materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Shares outstanding: 157,455,558
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.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the shares, nor is it a solicitation of interest from a prospective investor.
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Copyright (c) 2022 TheNewswire - All rights reserved., source