09:20:13 EST Sat 02 Dec 2023
Enter Symbol
or Name

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Bactech Environmental Corp (2)
Symbol BAC
Shares Issued 185,360,333
Close 2023-08-02 C$ 0.085
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Bactech says Ecuadorian decree suspension not final

2023-08-02 19:56 ET - News Release

Mr. Ross Orr reports


Bactech Environmental Corp. has been informed that the Constitutional Court of Ecuador admitted for processing an unconstitutionality claim filed by CONAIE, an indigenous group, with respect to the Presidential Decree 754 signed on May 31, 2023. The decree deals with the environmental consultation for all public and private industries in the country.

The decree will be provisionally suspended until there is a final decision of the Constitutional Court on the merits of the claim. In other words, this decision is provisional and not final. For now, the Presidency and other public bodies have 15 days to present their defense arguments on the merits of the action. BacTech has recently completed the information stage of the environmental consultation process in Tenguel, where the project received very positive feedback on the prospects of BacTech building a bioleach facility in this area. More details will be announced as they materialize.

"I would like to highlight that BacTech is not a mining company actively engaged in mining. Our business model calls for the purchase of high arsenic/gold concentrates from miners in Ponce Enriquez. Through bioleaching we will liberate gold and silver for recovery while producing a stable form of arsenic as a by-product. It is our intention to significantly raise the level of compensation to our workers compared to what they earn today. We will also mitigate the amount of arsenic that goes to the tailings," commented Ross Orr, President and CEO.

Upon completion, the facility is expected to be the largest and most efficient bioleaching plant in South America using naturally occurring bacteria, harmless to both humans and the environment, to treat gold and base metal concentrates along with toxic tailings created through local mining operations. BacTech was granted its Environmental Impact Study Permit in September 2022, further illustrating the government's commitment to the launch of this important project.

About BacTech Environmental Corporation

BacTech Environmental Corporation is a company that specializes in environmental technology. We use a process called bioleaching to recover metals like gold, silver, cobalt, nickel, and copper, while also safely removing harmful contaminants like arsenic. This process is eco-friendly and uses naturally occurring bacteria that are safe for both humans and the environment. By using our proprietary method of bioleaching, we are able to neutralize toxic concentrates and tailings while also creating profitable opportunities. The company is publicly traded on several stock exchanges, including the CSE, OTCQB, and Frankfurt Stock Exchange.

We seek Safe Harbor.

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