VANCOUVER, BC – BQE Water Inc. (TSX-V: BQE) (“BQE Water” or the “Company”), a leader in the treatment and management of mine impacted waters, has completed the full conversion of $1,500,000 of outstanding convertible loans (the “Loans”), together with $112,599 of accrued and unpaid interest, into common shares of the Company.
On November 28, 2018, the Company notified holders of the Loans that it intended to prepay an aggregate of $1,612,599 of outstanding principal and interest on December 14, 2018. In accordance with the terms of the Loans, the holders of all of the Loans have elected to convert the outstanding principal and interest into an aggregate of 26,876,644 common shares of BQE Water at a conversion price of $0.06 per common share.
“The decision by each of the holders to convert 100% of their Loans is a strong signal of confidence in the future prospects of the Company, especially considering that approximately 35% of the converted shares are held by certain directors, management and employees of the Company,” said David Kratochvil, President & CEO of BQE Water. “The full conversion will also help smooth out fluctuations in the Company’s working capital caused by the seasonality of our operational revenue.”
Following the conversion of the Loans, BQE Water will have a total of 120,843,316 common shares outstanding.
About BQE Water
BQE Water is a leading provider of sustainable mine water solutions that support and improve the performance of mining and smelting operations. Founded on the belief that water liabilities could be opportunities, BQE Water is working to change the way the industry views and assesses options to solve mine water challenges. BQE Water is headquartered in Vancouver, Canada and trades on the TSX Venture Exchange under the symbol BQE. Visit www.bqewater.com for more information.
The Toronto Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained herein may not be based on historical fact and therefore constitutes “forward-looking information” under applicable Canadian securities legislation. This includes without limitation statements containing the words “plan”, “expect”, “project”, “estimate”, “intend”, “believe”, “anticipate”, “may”, “will” and other similar words or expressions. 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, uncertainties and other factors that may cause actual events or results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the Company’s dependence on key personnel and contracts, uncertainty with respect to the profitability of the Company’s technologies, competition, technology risk, the Company’s ability to protect its intellectual property and proprietary information, fluctuations in commodity prices, currency risk, environmental regulation and the Company’s ability to manage growth and other factors described in the Company’s filings with the Canadian securities regulators at www.sedar.com (including without limitation the factors described in the section entitled “Risks and Uncertainties” in the Company’s MD&A for the year ended December 31, 2017). Given these risks and uncertainties, the reader is cautioned not to place undue reliance on forward-looking statements. All forward-looking information contained herein is based on management’s current expectations and the Company undertakes no obligation to revise or update such forward-looking information to reflect subsequent events or circumstances, except as required by law.