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

VANCOUVER, BC – BioteQ Environmental Technologies Inc. (TSX VENTURE:BQE) (the “Company”) announced today that a short form prospectus financing (the “Offering”) as disclosed in the Company’s news release of November 29, 2006 has closed and that the Company has received gross proceeds of $20,000,000. The Offering consisted of the issuance by the Company of 11,428,571 common shares at a price of $1.75 per share.

Canaccord Capital Corporation acted as agent for the Offering and received a cash commission of $1,400,000, agent’s warrants entitling the purchase up to 1,142,857 common shares from the treasury of the Company at a price of $1.75 per share to and including December 7, 2008, 50,000 common shares from the treasury of the Company as a corporate finance fee and reimbursement of its expenses incurred pursuant to the Offering.

The Offering was made in all of the provinces of Canada except Quebec and a portion of the Offering was made in the United States as a private placement through U.S. broker dealers affiliated with Canaccord Capital Corporation pursuant to an exemption under the U.S. Securities Act.

Corporate Profile
The Company is establishing itself as a leader in the treatment of acid contaminated water through the use of its patented BioSulphide® Process and related sulphide technologies. Focused on the mining industry, the Company has partnered with leading metal producers including Phelps Dodge, Breakwater, INCO, Jiangxi Copper, Codelco and 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.

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On behalf of the Board of Directors

Brad Marchant, President and Chief Executive Officer

This news release does not constitute and offer to sell or the solicitation of an offer to buy securities of the Company 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.