BacTech Environmental to Explore Green Bond Market for Ecuador Project
Toronto - August 5, 2020 BacTech Environmental Corp. ("BacTech" or the "Company") (CSE:BAC) (CNSX:BAC.CN) (OTC:BCCEF) today announced the signing of a Memorandum of Understanding ("MOU") with Green Bank Network, LLC to explore financing opportunities using Green Bonds.
"Although we are fairly early in the development of the Ecuador project, we understand the process to finance the plant construction and initial operating costs. With this in mind we want to assure shareholders that we are committed to financing the Ponce Enriquez plant with as little dilution as possible. Financing with instruments tied to environmental stewardship only makes sense considering the benefits bioleaching can bring to the local environment," said Ross Orr, President and CEO of BacTech.
Quoting from a 2019 summary produced by Climate Bonds Initiative, "Global green bond and green loan issuance reached an adjusted USD257.7bn in 2019, marking a new global record. The total is up by 51% on the final 2018 figure of USD170.6bn. Of the total, USD10bn (4%) are green loans (US$10B). The 2019 volume was primarily driven by the wider European market, which accounted for 45% of global issuance. Asia-Pacific and North American markets followed at 25% and 23%, respectively."
ABOUT GREEN BANK NETWORK, LLC
Green Bank Network, LLC focuses on the creation of Green Bonds to assist environmental projects globally. Green Bank Network projects accepted by the Green Bank Network advisory board, must have a very strong project and realistic management team. GBN completes its due diligence before making recommendations to insure a high percentage of success through their business model and business plan.
The Green Bank Network is offering (GBN) to raise funds for the purpose of assisting the selected green projects, especially in the "green mining" designation, The GBN bonds are backed by physical gold, that is processed environmentally. The sale of Green Bonds go toward projects worldwide, giving many countries an opportunity to become involved in saving their own communities and supporting green projects.
In July, BacTech collected samples of concentrate from six (6) of the over ninety (90) mines based in Ponce Enriquez, Ecuador. The combined production of the six (6) mines is approximately fifty (50) tonnes per day of concentrate, which coincides with the anticipated throughput of the bioleach plant at Ponce Enriquez. The company is presently preparing these concentrate samples for assay in Lima, Peru prior to being shipped to Perth, Australia for bioleach test work. In light of the new financing opportunities, BacTech is seeking to accelerate the testing process despite the challenges presented by the COVID-19 pandemic.
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
Follow us on:
Facebook http://www.facebook.com/BacTechGreen
Twitter http://twitter.com/BacTechGreen
LinkedIn http://www.linkedin.com/company/1613873
Vimeo http://vimeo.com/bactechgreen
YouTube http://www.youtube.com/user/bactechgreen
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: 105,420,423
Copyright (c) 2020 TheNewswire - All rights reserved.