BQE:CC - BQE Water Receives Record $2.6 M Dividend from China Joint Venture
(TheNewswire)
VANCOUVER, BC – TheNewswire – July 11, 2022 - BQE Water Inc. (TSXV:BQE) , aleader in the management and treatment of mine impacted water, isreporting the receipt of an annual cash dividend of $2.6 M ($13.5 MRMB) from its China joint venture operations. The dividend representsBQE Water’s 50% share of the joint venture profit earned andreported in its consolidated financial statements for 2021.
Revenues from the joint venture operations are generated from sales ofcopper recovered during the treatment of mine impacted water at marketprices. While dividends have been received annually since 2012, theamount for 2021 is notable as it is 160% higher than the $1 M ofrecent years. The dividend was also receive d ahead ofschedule, as distribution is typically made inthe fourth quarter.
David Kratochvil, President & CEO at BQE Water, commented, “ Receiving this record high dividend early hashelped us reach a threshold of cash reserves considered more thanadequate to support all ongoing operations and projected companygrowth in the near term. It also puts us in a very strong financialposition at a time of uncertainty in the global economy.”
Adds Songlin Ye, Vice President for Asia at BQE Water, "The fastapproval and processing of the dividend payment indicates that despiteour inability to travel and meet with our joint venture partnersin-person, our partnership remains strong. And while there have beenlock-downs and restrictions on domestic travel within China, the jointventure operations have continued uninterrupted throughout thepandemic as water treatment is essential for environmental protectionand contaminated mine water continues to be generated regardless ofmine production.”
About BQE Water
BQE Water is a service provider specializing in watertreatment and management for metals mining, smelting and refining.We are helping to transform the way industry thinks about water inthe context of natural resource projects by offering services andexpertise which enables more sustainable water management practicesand improved overall project performance at reduced risks. BQE Waterinvests in innovation and has developed unique intellectual propertythrough the commercialization of several technologies at mine sitesaround the world for organizations including Glencore, Jiangxi Copper,Freeport-McMoRan and the US EPA. BQE Water is headquartered inVancouver, Canada and trades on the TSX Venture Exchange under thesymbol BQE. Visit www.bqewater.com for more information.
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The Toronto Venture Exchange has notreviewed and does not accept responsibility for the adequacy or theaccuracy of this release.
CAUTIONARY STATEMENT REGARDINGFORWARD-LOOKING INFORMATION
Certain information contained herein maynot be based on historical fact and therefore constitutes"forward-looking information" under applicable Canadiansecurities legislation. This includes without limitation statementscontaining the words "plan", "expect","project", "estimate", "intend","believe", "anticipate", "may","will" and other similar words or expressions. Forward-looking statementsare based on the opinions and estimates of management at the date thestatements are made, and are subject to a variety of risks,uncertainties and other factors that may cause actual events orresults to differ materially from those expressed or implied by suchforward-looking statements. Factors that could cause or contribute tosuch differences include, but are not limited to, the Company’sdependence on key personnel and contracts, uncertainty with respect tothe profitability of the Company’s technologies, competition,technology risk, the Company’s ability to protect its intellectualproperty and proprietary information, fluctuations in commodityprices, currency risk, environmental regulation and the Company’sability to manage growth and other factors described in theCompany’s filings with the Canadian securities regulators at www.sedar.com (including without limitation the factors described in the sectionentitled "Risks and Uncertainties" in the Company's MD&Afor the year ended December 31, 2021). Given these risks anduncertainties, the reader is cautioned not to place undue reliance onforward-looking statements. All forward-looking information containedherein is based on management’s current expectations and the Companyundertakes no obligation to revise or update such forward-lookinginformation to reflect subsequent events or circumstances, except asrequired by law.
For further information please contact:
BQE Water Inc.
Suite 250 – 900 Howe Street
Vancouver BC Canada V6Z 2M4
David Kratochvil, President & CEO
dkratochvil@bqewater.com
Heman Wong, CFO
hwong@bqewater.com
604-685-1243 or 1-800-537-3073
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