VANCOUVER, B.C.– BioteQ Environmental Technologies, Inc. (TSX: BQE), a leader in the treatment of industrial waste water, announced today that Brad Marchant, Chief Executive Officer, will be retiring from the Company as of June 30, 2011. Following his retirement, Mr. Marchant will continue with the Company as a consultant to ensure a smooth transition to a new CEO and also to provide continuity and support for the Company and the Board of Directors as required for investor and customer relations, strategic planning and corporate issues. Dr. David Kratochvil will take on expanded executive responsibilities in his role as President and Chief Operating Officer. The Board of Directors has initiated a search for a new CEO with cooperation and input from Mr. Marchant.
Brad Marchant stated, “The Board and I believe that BioteQ is now in a position to bring in a new CEO to provide fresh thinking and leadership for the senior management and staff. The Company is in a great position for rapid growth and I believe we need a different skill set in the CEO position to work with David and his team to advance the corporate strategy. I am looking forward to my new role with the Company and hope that this change will result in accelerated growth for BioteQ, its staff and its shareholders.”
George Poling, Chairman of the BioteQ Board added, “We thank Brad for his leadership and vision to bring BioteQ from the seed of an idea in 1999 to an innovative leader in industrial water treatment today. We wish him well in his retirement, and look forward to his ongoing support and input as the Company enters its next stage of growth.”
BioteQ Corporate Profile
BioteQ creates custom water treatment solutions to recover dissolved metals and remove sulphate from water impacted by mining, energy and industrial activities. The company’s clean technologies convert wastewater into a useful resource while delivering lower life cycle costs for water treatment. BioteQ has designed and built 14 plants at sites in Canada, the US, Mexico, Australia and China, with additional projects in development.
BioteQ’s sustainable water treatment solutions have been recognized with national and international awards for innovation and sustainability. BioteQ is headquartered in Vancouver, Canada, and trades on the TSX under the symbol BQE. For additional information, please go to www.bqewater.com.
On behalf of the Board of Directors
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.
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, 2010. Circumstances or management’s estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.