BacTech Environmental Corporation

The President of Ecuador signed a pre-legislative consultation decree on November 28, 2022, advancing BacTech Environmental's pursuit of an Environmental License for its planned bioleaching facility in Tenguel, Ecuador.

BacTech Environmental received official Environmental and Social Impact Assessment approval from Ecuador's Ministry of Environment, Water, and Ecological Transition for its planned Tenguel bioleaching plant. The company will now pursue community consultation to secure an environmental license.

BacTech Environmental Corporation signed letters of intent with several gold mining cooperatives to supply up to 58 tonnes per day of arsenopyrite gold concentrates at a cutoff grade of 50 grams per tonne to its proposed Tenguel bioleaching plant in Ecuador.

BacTech Environmental raised $320,000 in a private placement to advance its Ponce Enriquez bioleaching project in Ecuador, and has optioned a land parcel for the proposed plant.

BacTech Environmental Corporation signed a Memorandum of Understanding with a European private equity group to fully fund a proposed bioleach plant in Ecuador, with the group able to obtain a 50% interest in exchange for providing 100% of the financing.