BioteQ Environmental Technologies Inc.
TSX VENTURE : BQE

BioteQ Environmental Technologies Inc.

October 24, 2006 00:05 ET

BioteQ Retains US-Based Financial Communications and Media Agency

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 24, 2006) - BioteQ Environmental Technologies Inc. (TSX VENTURE:BQE) reports that it has signed a retainer agreement with Wolfe Axelrod Weinberger Associates LLC, based in New York City, for financial public relations services. Communications services that will be provided to the Company include:

- Analysis and advisory services on the Company's marketing materials, financial profile and public presentation,

- Media relations on behalf of the Company,

- Introduction to investment newsletter services and trade publications,

- Introduction to qualified investment managers

Brad Marchant, President and Chief Executive Officer of BioteQ, commented, "BioteQ has reached significant milestones during 2006 in both revenue growth and attaining profitability. At this point we require an active investor relations program to broaden our investor exposure and we believe Wolfe Axelrod Weinberger will provide us with seasoned experience in this area. BioteQ has a very compelling story to tell and we feel that the Company should use outside expertise to properly disseminate the corporate message to the investment community, especially in the U.S. where BioteQ has several projects. We look forward to working with Wolfe Axelrod Weinberger on the growth plans at BioteQ."

The term of the retainer agreement is one year and the Company has agreed to pay a retainer fee of US$ 10,000 per month plus allowable expenses. In addition, the Company has approved incentive compensation in the form of options to purchase 200,000 fully paid and non-assessable shares of common stock of BioteQ, with an exercise price of CAD$ 2.00, vested over an 18 month period, and subject to approval of the TSX Venture Exchange and federal and state regulatory approvals in the United States. Each option will have a five year duration from the date of issue.

Profile of Wolfe Axelrod Weinberger Associates LLC

Wolfe Axelrod Weinberger Associates LLC (WAW) has been representing publicly traded emerging growth companies to both Wall Street and Main Street for over 25 years. WAW designs and implements pro-active, creative programs that enable its clients to capture the attention they deserve from the investment community and the media. WAW does not currently hold any securities in BioteQ.

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

Brad Marchant

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate" and other similar words, or statements that certain events or conditions "might" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the development, construction and operation of water treatment plants, variations in water quality, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors described in the section entitled "Risks" in the Company's Annual Report for the Year Ended December 31, 2005. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.


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
    or
    Wolfe Axelrod Weinberger Assoc. LLC - Contact in the U.S.
    Adam P. Lowensteiner
    (212) 370-4500
    Email: adam@wolfeaxelrod.com
    or
    Wolfe Axelrod Weinberger Assoc. LLC - Contact in the U.S.
    Alisa Steinberg
    Media
    (212) 370-4500
    (212) 370-4505 (FAX)
    Email: alisa@wolfeaxelrod.com