|By Marketwired .||
|October 15, 2013 04:15 PM EDT||
TORONTO, CANADA -- (Marketwired) -- 10/15/13 -- BacTech Environmental Corporation ("BacTech" or the "Company") (CNSX:BAC)(OTC:BCCEF)(WKN: A1H4TY) is pleased to announce that it has arranged a $100,000 private placement of Common Share units.
BacTech will issue 1,000,000 units at $0.10 per unit. Each unit is comprised of one (1) common share of BacTech and one (1) Series G common share purchase warrant enabling the holder to buy an additional common share for three (3) years after closing of the financing. The Common Shares and Warrants will be subject to a four month hold period.
Insiders or consultants of the Company have committed to purchase 40% of the financing. The proceeds will be used to progress the Snow Lake project and for working capital.
BacTech Environmental Profile
BacTech owns the exclusive, perpetual, royalty-free rights to use the BACOX bioleach technology for the reclamation of historic mine tailings globally. The Company's flagship project is the remediation of the arsenic/gold stockpile at Snow Lake under contract with the Manitoba government.
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Shares outstanding 48,755,027
The Canadian National Stock Exchange (CNSX) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.