BacTech Mining Corporation

BacTech Mining Corporation

September 16, 2009 09:15 ET

BacTech Closes First Tranche of Private Placement

TORONTO, CANADA--(Marketwire - Sept. 16, 2009) - BacTech Mining Corporation ("BacTech" or the "Company") (TSX VENTURE: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 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.

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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