EquiTech Corporation
TSX VENTURE : EQT

EquiTech Corporation

November 15, 2005 17:42 ET

EquiTech Announces Result of Warrants Exercise

EDMONTON, ALBERTA--(CCNMatthews - Nov. 15, 2005) - EquiTech Corporation (TSX VENTURE:EQT) ("EquiTech") is pleased to announce that $1,091,328 was raised through the exercise of warrants previously issued in connection with a Rights Offering conducted by EquiTech in February 2004. Each warrant entitled the holder to acquire one common share at a price of $0.30 per share on or before August 25, 2005. Proceeds will be used to advance products in the company's development pipeline and for general corporate expenses.

The previously announced (April 13 and June 10, 2005) brokered private placement financing of up to $3,000,000 will not be proceeded with at this time in light of the warrant exercise. Management continues to pursue partnering and business development opportunities.

About EquiTech Corporation

EquiTech Corporation uses proprietary technology to create and develop better absorbing pharmaceutical products. Positive results from a Phase II clinical study on its lead drug validates EquiTech's absorption enhancing technology, and supports the use of this platform technology in developing improved versions of pain relief and anti-inflammatory drugs currently in our product pipeline. EquiTech's lead drug is a 200 mg ibuprofen caplet designed to dissolve quickly and break apart in the stomach within minutes. The Phase II clinical trial results showed that EquiTech's ibuprofen caplet is absorbed into the blood stream significantly faster in the first hour and patients reported a trend of faster onset of pain relief compared to a leading over-the-counter ibuprofen tablet.

EquiTech trades on the TSX Venture Exchange under the symbol EQT and currently has approximately 18.2 million common shares outstanding. For further information, visit www.equitechcorporation.com.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The securities of the corporation have not been and will not be registered under the U.S. Securities Act, 1933, as amended and subject to certain exemptions may not be offered or sold in the United States or to U.S. persons. This press release may contain forward-looking statements, i.e. information that is not strictly historical, concerning EquiTech's business and prospects. Forward-looking statements are subject to a number of risks and uncertainties. Actual events and results may differ materially from those discussed in this press release, due to factors including research, development, commercial and market risks.

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

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