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Re: News Releases - Wednesday, September 16, 2009
Bactech Closes First Tranche of Private Placement
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Toronto, Canada, September 16, 2009 -- BacTech Mining Corporation
("BacTech" or the "Company", TSX.V: BM) today announced that it has
closed the first tranche of its non-brokered private placement
announced September 10, 2009, for total gross proceeds of $242,600.
In total, BacTech will issue 6.5 million units at $0.08 for gross
proceeds of $520,000. Each unit consists of one common share and one
half of a common share purchase warrant. A full warrant entitles the
holder to purchase one common share at $0.12 for a period of one year
from the date of closing.
All securities issued for the first tranche of the offering, and the
underlying securities, are subject to a four-month hold period that
expires January 16, 2010, with the one-year warrants expiring September
15, 2010
In connection with the offering, BacTech may pay to certain arm's
length parties a cash finder's fee in the amount of 8% of the gross
proceeds raised.
Completion of the private placement is subject to approval by the TSX
Venture Exchange ("TSX-V").
BACTECH PROFILE
BacTech owns patented bacterial oxidation technology for the treatment
of refractory ores and concentrates to enhance the recovery of gold,
silver and base metals. The Company's focus is the acquisition of
equity positions in projects amenable to bioleaching. In September
2008, BacTech signed an MOU to investigate the use of bioleaching to
reprocess arsenic-laden tailings in Cobalt, Ontario. This is the
Company's first foray into the cleantech industry. BacTech is
continuing to evaluate additional remediation projects.
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For further information contact:
Ross Orr, President & CEO: 416-813-0303 ext 222
Shares outstanding 83,982,206
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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Copyright (c) 2009 BACTECH MINING CORPORATION (BM) All rights
reserved. For more information visit our website at
http://www.bactech.com/ or send mailto:info@bactech.com
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VanEck Vectors Global Alternative Energy ETF
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EXPLORATION STAGE |
CODE : BM.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
BacTech Mining is a gold development stage company based in Canada. BacTech Mining holds various exploration projects in Armenia. Its main exploration properties are FERGUSSON ISLAND in Papua New Guinea and LICHKVAZ-TEY in Armenia. BacTech Mining is listed in Canada and in United States of America. Its market capitalisation is 4.3 millions as of today (US$ 3.0 millions, € 2.7 millions). Its stock quote reached its highest recent level on January 30, 1998 at 99.50, and its lowest recent point on April 22, 2016 at 0.03. BacTech Mining has 47 442 200 shares outstanding. |