BioteQ Provides Update on CEO Succession Plan
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/30/11 -- BioteQ Environmental Technologies Inc. (TSX: BQE), a leader in the treatment of industrial waste water, has provided an update about its succession plan for retiring Chief Executive Officer, Brad Marchant. The Board of Directors has established a CEO Search Committee, and has retained the services of an international executive search firm, with a mandate to seek out a seasoned leader who can accelerate BioteQ's growth. The Board, together with the executive officers of the Company, are presently reviewing the qualifications of potential candidates.
Mr. Marchant will remain the Company's CEO until a suitable replacement has been found. Following his retirement, Mr. Marchant will continue to support the Company as a consultant to ensure a smooth leadership transition and provide continuity and support for the Company as required for investor and customer relations, strategic planning, and corporate issues.
Brad Marchant, BioteQ's retiring CEO stated, 'We don't want to rush this process. It is prudent to be patient to ensure we find the right fit for our company leadership. I am confident that the changes underway within BioteQ will drive the Company forward in terms of revenue growth, market expansion, and profitability for the benefit of shareholders, customers, and staff.'
The Company will provide further updates by press release when a successor is named.
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, with offices in Chile and China, and trades on the TSX under the symbol BQE. For additional information, please visit our website at www.bioteq.ca.
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.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.