BacTech Environmental Corporation

BacTech Environmental Corporation

December 23, 2010 11:51 ET

BacTech Environmental Closes Private Placement

TORONTO, ONTARIO--(Marketwire - Dec. 23, 2010) - BacTech Environmental Corporation ("BacTech" or the "Company") (CNSX:BAC) today announced the closing of the private placement announced on December 10, 2010, for total gross proceeds of CAD$303,200. Pursuant to the financing, the Company issued 2,526,666 units priced at $0.12 per unit. Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at a price of $0.17 until December 22, 2011.

In connection with the offering, BacTech will pay to arm's length parties finder's fees totaling $8,890.00 and issue 82,833 agent's warrants. Each agent's warrant is exercisable into one common share at $0.17 until December 22, 2011. The common shares and underlying securities are subject to a four-month hold period that expires April 23, 2011.

The proceeds will be used for general working capital.

Stock symbol: It has come to our attention that some people are having difficulty locating BacTech Environmental to obtain a stock quotation. The Company is listed on the Canadian National Stock Exchange ("CNSX") under the symbol "BAC". Below are suggested avenues for obtaining a quote.

The easiest way to find a quote for BacTech, is through the following two web sites, using the symbol "BAC". Both of these are 15 minutes delayed.

For those attempting to obtain a quote through a brokerage terminal, the following may be of assistance;

  • If the feed comes from Thompson Reuters, use the symbol "BAC-L"
  • If the feed comes from Globe Investor, use the symbol "BAC-CN"

At this time, Yahoo Finance does not provide quotations for CNSX stocks.

BacTech profile

BacTech Environmental Corporation was created through a Plan of Arrangement completed on December 2, 2010, whereby shareholders of the former BacTech Mining Corporation ("BMC"), renamed REBgold Corporation, were issued, in exchange for their BMC shares, 1 share of REBgold Corporation and 1/5th of one share of BacTech Environmental. BacTech Environmental holds the exclusive rights to use REBgold's patented bioleaching technology for reclamation of tailings and concentrate processing.

Shares outstanding 29,246,773

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