BacTech Environmental Corporation announced a private placement of 7,575,758 units at an issue price of CAD 0.066 per unit for gross proceeds of CAD 500,000 on December 12, 2022. Each unit consist of one common share and one transferable common share purchase warrant. Each whole warrant shall entitle the holder thereof to acquire one additional common share at a price of CAD 0.132 per warrant share until the date that is 24 months from the closing date.

On the same day, the company issued 851,515 units for gross proceeds of CAD 56,200 in its first tranche. In connection with the closing of the first tranche, the company will pay finder's fees of CAD 2,310 and 35,000 broker warrants to Canaccord Genuity Group Inc.