BioteQ Environmental Technologies Inc.: Filing of Final Short Form Prospectus-$20,000,000 Equity Financing

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VANCOUVER, BC – Further to the news release of BioteQ Environmental Technologies Inc. (TSX VENTURE:BQE) (the “Company”) dated November 14, 2006, the Company announced today that it has filed a final short form prospectus for a commercially reasonable efforts basis agency offering of common shares of the Company to raise up to $20,000,000 (the “Offering”). This is an increase in the size of the offering (and the deletion of a portion of the Offering being by way of an over-allotment option) announced in the Company’s November 14 news release and contained in the Company’s preliminary short form prospectus dated November 14, 2006.

The price of the common shares has been set at $1.75 per share which will result in the Company issuing up to 11,428,571 common shares. The agent for the Offering is Canaccord Capital Corporation.

Net proceeds from the Offering will be used by the Company for general working capital and for the development of new opportunities and capital assets.

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

John C. York, Chief Financial 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.