Bactech restructures convertible debenture

Executive Summary

• Bactech Environmental Corp. restructured its existing convertible debenture, converting $950k of principal into 19 M common shares and issuing 19 M three‑year warrants at $0.15 per share.
• An additional $850k of debt was forgiven in exchange for a 1% royalty on the company’s projects, reducing total outstanding convertible debt by roughly $1.8 M.
• The restructuring simplifies Bactech’s capital structure, limits dilution, and positions the firm to raise capital for its Ecuador bio‑leach facility and zero‑tailings initiatives.

Key Details

• Conversion: Debentureholder converts $950,000 principal into 19,000,000 common shares of Bactech.
• Warrants: Issuance of 19,000,000 three‑year common share purchase warrants, exercisable at $0.15 per share.
• Debt Forgiveness: Remaining $850,000 of the convertible debenture is forgiven; in return the debentureholder receives a 1% royalty on all Bactech projects.
• Total Debt Reduction: Approximately $1.8 M of convertible debt eliminated, improving balance‑sheet leverage.
• Strategic Purpose: Strengthens financial foundation to support upcoming capital raise for the Ecuador bioleach plant and advancement of zero‑tailings projects in Sudbury, Canada.
• Management Quote: “By eliminating debt and simplifying our capital structure, we are reinforcing the company's financial foundation and advancing the Ecuador bioleach facility as efficiently as possible,” said Ross Orr, President & CEO.

Notable Quotes

"This restructuring reflects the continued confidence of a long‑standing investor in Bactech's technology and near‑term growth prospects," – Ross Orr, President and Chief Executive Officer.