BioteQ Environmental Technologies Inc.
TSX VENTURE : BQE

BioteQ Environmental Technologies Inc.

November 14, 2006 21:21 ET

BioteQ Announces a $10 Million Equity Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 14, 2006) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW

BioteQ Environmental Technologies Inc. (TSX VENTURE:BQE) ("BioteQ") announced today that it has filed a preliminary short form prospectus for a commercially reasonable efforts basis agency offering of common shares of BioteQ for anticipated total proceeds of approximately $10 million (with provision for an over-allotment of up to an additional $5 million) (the "Offering").

The exact number of common shares to be issued under the Offering and the issue price per share will be determined following marketing of the Offering with a closing anticipated to occur in early December 2006.

The net proceeds from the Offering will be used by BioteQ for general working capital purposes and for the development of new opportunities and capital assets.

The preliminary short form prospectus has been filed in all provinces in Canada, except Quebec.

The agent for the Offering is Canaccord Capital Corporation.

Closing of the Offering is subject to certain conditions, including receipt of normal regulatory approvals.

Corporate Profile

BioteQ is establishing itself as a leader in the treatment of acid contaminated water through the use of its patented BioSulphide® Process, ChemSulphide™ Process and related sulphide technologies. Focused on the mining industry, BioteQ has partnered with leading metal producers including Phelps Dodge, Breakwater, INCO, Jiangxi Copper, Codelco and Falconbridge (Xstrata) as well as utilities operator EPCOR Water Services, to finance, design, build and operate mine site water treatment plants which recover saleable metals in addition to meeting ever stricter environmental regulations.

On behalf of the Board of Directors

Richard Lawrence, Vice President

This news release does not constitute and offer to sell or the solicitation of an offer to buy securities of BioteQ within the United States. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to or for the account or benefit of a U.S. person absent registration or an applicable exemption from the registration requirements of such Act or laws.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • BioteQ Environmental Technologies Inc.
    Brad Marchant
    President & CEO
    (604) 685-1243
    (604) 685-7778 (FAX)
    or
    BioteQ Environmental Technologies Inc.
    Caren Holtby
    Investor Relations
    1-800-537-3073
    Email: investor@bioteq.ca
    Website: www.bioteq.ca