BacTech Environmental Corp. closes the last tranche of the oversubscribed convertible bond financing
May 07.05.2012, 1 Toronto, Canada - BacTech Environmental Corporation (“BacTech” or the “Company”, CNSX: BAC, WKN: A4H19TY) announced that it has closed the second and final tranche of the convertible bond financing originally announced on April 2012, 85.000 Has. The funding was oversubscribed, adding an additional $ 500.000 to the original target of $ 585.000. Total funding income was $ 160.000, of which $ 425.000 was completed in the second tranche and $ XNUMX was completed in the first tranche.
The financing consists of units priced at CAD 10.000 each. Each unit consists of $ 10.000 face value redeemable unsecured convertible bonds (each a "Bond") and 50.000 E Series common stock purchase warrants. The bonds will bear 12 percent interest per annum, payable quarterly. The bonds mature on April 25, 2014. BacTech has the option to redeem the bonds at their nominal value at any time, but at least 120 days after issue. Prior to maturity or redemption, the bonds can be converted into ordinary shares at any time at the option of the holder at a price of CAD 0,20 per share. Each Series E Warrant gives the holder the right to purchase one share of common stock at a price of CAD 25 through April 2014, 0,20. The bonds and warrants and the common shares to be issued after the bonds are converted and the warrants exercised are subject to a four month hold from the date the financing is closed.
BacTech has paid brokerage fees in the form of 12.000 CAD in cash and 60.000 broker warrants to parties who presented subscribers to the entities. Every mediator wrench is up to 25. April 2014 into a common stock at the price of 0,20 CAD convertible.
Profile of BacTech
BacTech Environmental holds the exclusive, royalty-free rights to use the patented BACOX Bio Leach Technology for the rehabilitation of tailings and mining waste. In November, BacTech signed a contract with the Manitoba Department of Innovation, Energy and Mines Department of Manitoba's Ministry of Innovation, Energy and Mines for the treatment of an arsenopyrite gold mine at the Snow Lake Mine in Snow Lake, Manitoba. The company continues to receive inquiries from all over the world regarding further opportunities for renaturation.
The Canadian National Stock Exchange (CNSX) has not reviewed the contents of this news release and accepts no responsibility for the adequacy or accuracy of this release.
The content of the press release is the sole responsibility of the company. It was not audited by the CNSX or any third party. The German version may be shortened or summarized. No responsibility or liability is accepted for the content, accuracy, adequacy or accuracy of this translation. From the perspective of the translator, the message does not constitute a purchase or sale recommendation! Please see the original English report on www.sedar.com or www.sec.gov or on the company website!
For more information, please contact:
Ross Orr, President & CEO
Phone: (416) 813-0303 x 222
Email: ppgad@pucrs.br
Bill Mitoulas, Investor Relations:
Tel .: (416) 479-9547
Email: ppgad@pucrs.br
Outstanding shares: 39.088.361
