Re: News Release - Friday, September 25, 2009
Bactech Closes Second Tranche of Private Placement
=======================================================================
Toronto, Canada, September 25, 2009 - BacTech Mining Corporation
("BacTech" or the "Company", TSX.V: BM) today announced that it has
closed the second tranche of its non-brokered private placement
announced September 10, 2009, for total gross proceeds of $155,000.
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 second tranche of the offering, and the
underlying securities, are subject to a four-month hold period that
expires January 25, 2010, with the one-year warrants expiring September
24, 2010
In connection with the offering, BacTech may pay to certain arm's
length parties a 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.
BACTECH PROFILE
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.
- 30 -
For further information contact:
Ross Orr, President & CEO: 416-813-0303 ext 222
Shares outstanding 88,952,206
