TORONTO, CANADA--(Marketwire - Feb. 19, 2013) - BacTech Environmental Corporation ("BacTech" or the "Company") (CNSX:BAC)(OTC:BCCEF)(WKN:A1H4TY) is pleased to announce the appointment of Elena Gerasimovskaya to the Board of Directors of BacTech.
Ms Gerasimovskaya graduated from Moscow State University with a specialization in bio-physics and studied at the Moscow-based campus of the Wharton Business School before attending the Moscow Higher School of Economics where she gained her MBA.
Ms Gerasimovskaya has worked for major international companies in the area of marketing, project management and research and development. Since 2010, she has worked for Maxwell Asset Management as a Director of the division specializing in bio-energy, cleantech/greentech, and is a member of the investment committee for this area of investment. She is a director of the London-based investment company, Option Three Advisory Services Limited ("Option Three").
Option Three participated in the Company's last private placement and purchased 19.83% of BacTech in October 2012. As part of its subscription, Option Three and the Company entered into an Exclusivity Agreement pursuant to which, among other things, Option Three is entitled, subject to applicable law, to nominate a member to the Board of Directors of BacTech for so long as it directly or indirectly holds at least 10% of the issued and outstanding common shares of BacTech.
The Company also announces that its Environmental Act Proposal has been posted for public comment by the Environmental Approvals Branch of the Manitoba Department of Conservation and Water Stewardship. Anyone wishing to make a representation on the proposal should contact the Department not later than March 15, 2013. Instructions for registering comments, along with a copy of the Proposal, are posted at:
BacTech Environmental Corporation holds the perpetual, exclusive, royalty-free rights to use the patented BACOX bioleaching technology for the reclamation of tailings and mining waste materials. In December 2011, BacTech signed a contract with the Mines Branch of the Manitoba Department of Innovation, Energy and Mines to remediate an Arsenopyrite Residue Stockpile ("ARS") situated at the Snow Lake Mine in Snow Lake, Manitoba, to eliminate further leaching of Arsenic generated within the ARS into the surrounding watershed. The Company continues to field enquiries globally with respect to additional opportunities for remediation.
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