|By Marketwired .||
|November 8, 2013 04:02 PM EST||
TORONTO, CANADA -- (Marketwired) -- 11/08/13 -- BacTech Environmental Corporation (CNSX:BAC)(OTC:BCCEF)(WKN: A1H4TY) ("BacTech" or the "Company") is pleased to announce that it has closed a private placement originally announced on October 15, 2013. BacTech has received a total of $100,000. The Company issued 1,000,000 units priced at $0.10 per unit, for gross proceeds of CAD$100,000. Each Unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one common share at a price of $0.15 until October 26, 2016.
The common shares and underlying securities issued pursuant to the private placement are subject to a four-month hold period which expires February 26, 2014.
The proceeds of the private placement will be used for the Snow Lake project in Manitoba, and general working capital.
Insiders of the Company purchased 45% of the offering.
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.
Follow us on:
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.