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Re: News Release - Monday, February 09, 2009
BacTech Announces Private Placement
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Toronto, Canada, February 9, 2009 - BacTech Mining Corporation
("BacTech" or the "Company", TSX-V: BM) announced today that it intends
to raise $500,000 in a private placement of common share units.
BacTech will issue 10 million units at $0.05 for gross proceeds of
$500,000. Each unit will consist 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 $0.10 for a period of one year from the
date of issue. The common shares and warrants will be subject to a 4
month hold period. The Company reserves the right to increase the
amount of the financing if there is a demand. Completion of the private
placement is subject to approval by the TSX Venture Exchange ("TSX-V").
In connection with the private placement, and subject to approval by
the TSX-V, a finder's fee of 3% may be paid to arm's length parties.
The proceeds will be used to redeem certain debt obligations and for
general working capital.
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 June 2008, the
Company signed an agreement to acquire Yamana Gold Inc.'s 33% interest
in two refractory gold deposits in Papua New Guinea. 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.
For further information contact:
Ross Orr, BacTech Mining Corporation: 416-813-0303 ext 222
Pierre Anglos 1-800-436-2027 Email: capitalgainsco@shaw.ca
Shares outstanding 61,107,206
The TSX Venture Exchange has not reviewed and does not accept any
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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BacTech Mining Corp
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EXPLORATEUR |
CODE : BM.V |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
BacTech Mining est une société développant des projet miniers d'or basée au Canada. BacTech Mining détient divers projets d'exploration en Armenie. Ses principaux projets en exploration sont FERGUSSON ISLAND en Papouasie-Nouvelle-Guinee et LICHKVAZ-TEY en Armenie. BacTech Mining est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 751 120 CA$ (553 923 US$, 499 528 €). La valeur de son action a atteint son plus haut niveau récent le 30 janvier 1998 à 99,50 CA$, et son plus bas niveau récent le 22 avril 2016 à 0,03 CA$. BacTech Mining possède 8 836 707 actions en circulation. |