BacTech Environmental Corp. Update on Annual Filings
Toronto, April 24, 2020 - BacTech Environmental Corp. ("BacTech or the Company") (CSE:BAC) (CNSX:BAC.CN) (OTC:BCCEF) announced that, as a result of the COVID-19 pandemic, it will be relying on the coordinated relief provided by the securities regulators which consists of a 45-day extension for certain periodic filings, as announced by the Canadian Securities Administrators ("CSA") on March 18, 2020, with respect to the filing of its annual financial statements, management's discussion and analysis, and related officer certificates for its financial year ended December 31, 2019. On March 18, 2020, the Canadian Securities Administrators ("CSA") announced they would be providing issuers with a 45-day extension for filings required to be made on or prior to June 1, 2020 as a result of the COVID-19 pandemic. As such, the Ontario Securities Commission ("OSC") Requirements ("OSC 51-502"). More specifically, the Company intends to postpone the filing of its annual consolidated financial statements and accompanying management's discussion and analysis and related CEO and CFO certificates for the financial period ended December 31, 2019, which are required to be filed by April 29, 2020, under sections 4.2 and 5.1(2) of National Instrument 51-102 - Continuous Disclosure Obligations.
The Company confirms that there have been no material developments, other than those disclosed through news releases, since the filing of its condensed interim consolidated financial statements for the period ended September 30, 2019. The Company would like to note that it has filed a Regulation A offering memorandum in the United States and continues with this process. Should material business developments occur, the Company will update shareholders accordingly.
The Company is continuing to work diligently and expeditiously to file the Annual Filings and currently expects to have them filed before the deadline of June 1, 2020.
Additionally, the Company advises that management and other insiders of the Company are subject to a trading black-out policy as described, in principle, in section 9 of National Policy 11-207, Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
ABOUT BACTECH
BacTech is promoting the use of its proprietary bioleach processing technology to treat historic arsenopyrite concentrates and tailings produced in the Ponce Enriquez area of Southern Ecuador.
BacTech has agreed to participate with a group looking to reprocess the Arsenic Stockpile in Snow Lake, Manitoba as a technology partner.
For further information contact: Ross Orr, President & CEO, BacTech Environmental Corp./ 416-813-0303 ext. 222, Cell 416-346-5529 and Email: borr@bactechgreen.com
Robin Cook, Investor Relations: 416-809-1738, Email: robin@frontiermcg.com
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Special Note Regarding Forward-Looking Statements
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to future tailings sites, sampling or other investigations of tailing sites, the Company's ability to make use of infrastructure around tailings sites or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified using words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether because of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Shares outstanding: 103,287,089
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the shares, nor is it a solicitation of interest from a prospective investor.