An anonymous director reports

BQE WATER ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

BQE Water Inc. has obtained the approval of the TSX Venture Exchange to renew its normal course issuer bid for a portion of its issued and outstanding common shares as appropriate opportunities arise from time to time.

The board believes that, from time to time, the market price of the company's shares does not adequately reflect the company's intrinsic value and future prospects and that the repurchase of the company's shares represents an attractive investment and an advantageous use of the company's financial resources. The company expects the repurchase of shares will benefit shareholders by increasing their equity interest in the company.

Pursuant to the NCIB notice filed with TSX-V, the company intends to repurchase for cancellation up to 62,351 shares, representing approximately 5 per cent of the shares as of Nov. 29, 2023, over a 12-month period starting Dec. 13, 2023, to Dec. 13, 2024, unless the maximum amount of shares is purchased before then or the company provides earlier notice of termination. As of Nov. 29, 2023, the company had 1,247,028 issued and outstanding shares.

The company has engaged Raymond James Ltd. to act as its broker for purchases under the renewed NCIB. The shares will be purchased through the facilities of the TSX-V at the prevailing market price at the time of acquisition. Payment for the shares will be made from the company's existing working capital. The broker will determine the timing of these purchases in its sole discretion based on purchasing limits set by the company and subject to the policies of the TSX-V and applicable securities laws. All shares purchased by the company under the NCIB will be cancelled.

Under its current NCIB, which expires on Dec. 12, 2023, the company received approval from the TSX-V to purchase for cancellation a total of 62,556 shares, of which, as at the close of business on Nov. 30, 2023, 13,100 shares have been purchased by the company at a weighed-average price of $28.38 per share.

There can be no assurance as to the precise number of shares or the aggregate dollar amount that will be repurchased under the NCIB. To the company's knowledge, none of the directors, senior officers or insiders of the company, or any associate of such person, has any present intention to sell any securities to the company during the course of the NCIB.

About BQE Water Inc.

BQE Water is a service provider, specializing in water treatment and management for metal mining, smelting and refining. It is helping to transform the way the industry thinks about water in the context of natural resource projects by offering services and expertise, which enable more sustainable water management practices and improved overall project performance at reduced risks. BQE Water invests in innovation, and has developed unique intellectual property through the commercialization of several new technologies at mine sites around the world for organizations, including Glencore, Jiangxi Copper, Freeport-McMoRan and the U.S. Environmental Protection Agency. BQE Water is headquartered in Vancouver, Canada, and trades on the TSX Venture Exchange under the symbol BQE.

We seek Safe Harbor.