ECL Ecl Enviroclean Ventures Ltd

BioteQ Environmental Technologies, Inc. (TSX:BQE), a leader in industrial
wastewater treatment, releases its financial and operating results for the three
months ended March 31, 2014. Further information on the quarterly results can be
obtained from the Company's Q1 2014 Quarterly Report which includes the
Condensed Consolidated Interim Financial Statements and Management's Discussion
and Analysis ("MD&A").


BioteQ will hold a conference call on May 15 at 11:00 AM EDT to discuss results
for the first quarter. Participants can dial in as follows:




North America: 1-416-644-3415 or toll free at 1-877-974-0445                
United Kingdom: 44-20-7190-1595 or toll free at 0800-358-5256               
Switzerland: 41-22-592-7311 or toll free at 0800-560-749                    
Participant pass code: 4682671                                              



As noted at the beginning of 2013, due to changes in Generally Accepted
Accounting Standards ("GAAP"), the results of the Company's joint ventures are
accounted for as equity investments in BioteQ's current and future financial
statements. In prior years before 2013, the results of the Company's joint
ventures were accounted for through proportionate consolidation.


To ensure clarity and comparability with historic results, certain statements in
this news release and in the MD&A are characterized as BioteQ's "proportional"
share, which means the effective portion of results that BioteQ would have
reported if each of its joint ventures had been reported in accordance with past
accounting standards. For further details, please see "Non-GAAP Financial
Measures" in the Company's Q1 2014 MD&A.


Q1 2014 Financial Results



--  Revenues for the quarter as reported under GAAP were $154,000 compared
    $796,000 in 2013, a decline of 80% compared to the prior year; 
--  Proportional revenues, which include the Company's joint venture
    activities, were $553,000 compared to $2 million in 2013, a decline of
    76% compared to the prior year; 
--  Adjusted earnings before interest, tax, depreciation and amortization
    ("adjusted EBITDA") was a loss of $2 million compared to a loss of
    $755,000 in Q1 2013; 
--  Net loss for the quarter as reported under GAAP was $2.1 million
    compared to $1 million in 2013; and 
--  Cash and cash equivalents and short-term investments, including its
    share held in joint ventures, was $2.7 million compared to $3.2 million
    at the end of 2013.



Management Changes

In February 2014, BioteQ announced changes to its executive management team and
roles on its Board of Directors as follows:




--  Jonathan Wilkinson stepped down from his positions as Chief Executive
    Officer and Board member; 
--  David Kratochvil, previously BioteQ's President and Chief Technology
    Officer, rejoined the Company in the capacity of Interim Chief Executive
    Officer; 
--  George Poling stepped down from his capacity as Board Chair for personal
    reasons, although he will remain on the BioteQ Board; and 
--  Peter Gleeson, previously a non-executive member of the Board, assumed
    an executive management role as Executive Chairman.



The management and board changes are part of a plan that will include a renewed
emphasis on the development and provision of innovative technical solutions for
the mining sector.


Water Treatment Operations

Water treatment operation at the Dexing mine site, a joint venture with mine
site owner Jiangxi Copper Company ("JCC"), treated 1.3 million cubic metres of
water and recovered a total of 212,000 pounds of copper compared to Q1 2013 when
BioteQ treated 2.2 million cubic metres of water and recovered 511,000 pounds of
copper. The decline in water volume and copper production were anticipated and
meet budgeted projections. The decrease in volume of water treated and pounds of
copper recovered is due to lower than expected rainfall in the region and lower
concentrations of copper in the feed water. In recent weeks, both the volume of
water at the site and copper concentration levels have increased back to
historical levels and we now anticipate that the plant is expected to recover
approximately 1.6 million pounds of copper for the year.


New Plant Construction Update

BioteQ is completing construction of two new plants in China with joint venture
partner JCC. The copper recovery plants are in the final stages of construction
and commissioning and will commence operations in the second quarter.




--  The plant at JCC's Yinshan mine site is currently being commissioned.
    The plant has started to receive wastewater into the plant to allow
    final process and mechanical adjustments to be completed. Once fully
    operational, the plant is expected to recover approximately 900,000
    pounds of copper on an annual basis. 
--  A second copper recovery plant at JCC's Dexing mine site is in the final
    construction phase and expected to begin commissioning and operations
    later in Q2. Once in operation, the plant is also expected to recover
    approximately 900,000 pounds of copper on an annual basis.



Sales and New Technology Development

The management changes announced during the quarter were implemented to refocus
the company to pursue opportunities that will lead to the generation of
recurring revenues and that will allow BioteQ to play the role of a technical
expert and a technology partner to customers seeking to manage technical risks
associated with achieving cost effective compliance with new, challenging,
environmental regulations. These partnerships will better align the interests of
BioteQ and its customers in the success of projects over the long-term while
utilizing the Company's core strengths and expertise. Since the personnel
changes, management has been actively engaging existing and potential new
customers with this objective as a primary focus. In addition, BioteQ continued
to work closely with existing business partners in advancing joint business
opportunities and identified and started working with several new partners who
will broaden BioteQ's outreach and capacity to execute projects using the new
business model. Finally, management engaged well established and highly
reputable service providers to the mining industry who could open up potential
new channels in the future. While the initial response has largely been very
positive, it will take time for relationships to develop, suitable sites to be
identified, and projects to be awarded.


The following is an update on key opportunities in progress:

Selenium Removal - Selen-IX(TM) 

BioteQ is currently in the process of working with its existing partners and
potential new customers on deploying its Selen-IX(TM) pilot plant, constructed
and successfully operated as part of the work performed under contract with Teck
in 2013, on streams where nitrate removal is not required. The objective is to
select those opportunities that combine the right technical fit with the
customers' needs that are often customer and site specific. 


EcoMetales Limited - BioSulphide(R) Plant Design

Subsequent to the end of the quarter, BioteQ started to provide paid technical
services to BioteQ's Chilean partner EcoMetales Limited ("ECL") focused on
advancing the design of a treatment plant using BioteQ's BioSulphide(R) process
to improve the removal of arsenic from wastewater originating at one of the
smelter operations in Chile. The objective of the project is to reduce the
hazardous wastes, in terms of mass and volume, and to enhance water reuse. The
support from BioteQ is part of a broader effort to complete environmental
assessment and economic evaluation of the treatment process.


Consulting Contracts - Latin America

BioteQ has also entered into several small contracts for the supply of technical
services to a number of customers and sites across Latin America. The scope of
these contracts range from technical feasibility studies, to operational reviews
including on site operations assistance and laboratory testing. While the
financial amounts to be received from these contracts are limited, BioteQ has
performed rigorous screening of the sites and customer's requirements to ensure
a long-term strategic fit with the new business strategy, and as a result BioteQ
is optimistic that these service contracts will prove to be a catalyst for
larger contracts in the future.


Other Items:



--  In December 2013, BioteQ began a financing under a Share Rights Offering
    to raise gross proceeds of approximately $1.2 million ($960,000 net of
    expenses). The proceeds from the offering will be used to fund operating
    expenses and other general working capital needs. The financing closed
    in January 2014. 
--  BioteQ continues to be engaged in its ongoing litigation with Aditya
    Birla Minerals in Australia. The courts have set a mediation date for
    both parties in late June 2014. BioteQ's legal position has not changed
    since the inception of the litigation: BioteQ does not believe Birla's
    allegations have merit and are vigorously defending its position. BioteQ
    will also continue to pursue legal action against Birla for breach of
    contract related to water treatment operations at the Mount Gordon site.
--  During the quarter, BioteQ amended the payment terms of its legal
    settlement with NWM Mining. The final $700,000 payment originally due
    April 30, 2014 is now due as follows: $50,000 due March 31, 2014,
    $50,000 due April 15, 2014, and the final $600,000 balance will be due
    no later than June 30, 2014. All other terms and conditions remain
    unchanged. The March and April payments totaling $100,000 have been
    received.



2014 Outlook

BioteQ entered 2014 with a limited backlog in new project bookings. Projects
that were expected to be closed and executed by this time of the year have not
materialized or have been delayed. As previously noted, the new sales model
being implemented by management will take time to begin bringing cash flow into
the Company. This shortfall in near term sales has brought working capital
resources to lower than expected levels. Although the Company believes it can
manage its working capital through this period, non-operational sources of
capital may be required in the short-term.


The company is reviewing and actively pursuing all options to avoid a short-term
working capital deficiency including the repatriation of funds available in its
joint venture ahead of schedule and pursing amounts owed. However, the results
of these initiatives are uncertain at this time.


BioteQ Corporate Profile

BioteQ is an innovative clean technology leader in global industrial water
treatment, serving the mining and energy markets. The company has technology
expertise and proven operational capabilities in sulphide precipitation, ion
exchange, alkali/lime precipitation, leaching, sulphate removal and SART
technology. Over the past decade, BioteQ has designed and commissioned
wastewater treatment plants at mine sites for leading organizations including
Glencore Xstrata, Freeport McMoran, Jiangxi Copper and the US EPA. These plants
recover dissolved metals and/or remove substances such as sulphate and selenium,
producing clean water and minimizing or eliminating residual waste. BioteQ is
headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE.
Please visit our website at www.bioteq.ca for additional information.


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

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 Annual Report
for the year ended December 31, 2013 and the section entitled "Risk Factors" in
the Company's Annual Information Form for the year ended December 31, 2013).
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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
BioteQ Environmental Technologies Inc.
David Kratochvil
Interim CEO
604.685.1243 or 1.800.537.3073
dkratochvil@bioteq.ca


BioteQ Environmental Technologies Inc.
Paul Kim
CFO
604.685.1243 or 1.800.537.3073
pkim@bioteq.ca
www.bioteq.ca

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