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BQE Water PRESS RELEASE April 28 , 2021 BQE Water Reports Audited Year End 2020 Results VANCOUVER , BC - BQE Water Inc. ( TSX - V : BQE ) , a leader in the treatment and management of mine impacted waters , is pleased to release its audited consolidated financial results for the year ended December 31 , 2020 . " We are very proud of the 2020 results we achieved despite the challenges presented by a global pandemic , " said David Kratochvil , President & CEO of BQE Water . " Not only did we reach a fourth consecutive year of growing Adjusted EBIDTA and net income to new record highs , we also realized several key technical milestones . These include the commercialization of our patented Selex - IX ™ process technology to remove selenium to less than two parts per billion and the implementation of the first SART plant in the world to recover copper and zinc as separate products , reflecting our leadership in the cyanide recovery and recycle technology . " FINANCIAL HIGHLIGHTS • • • Increased Adjusted EBITDA by 55 % , from $ 1.7 million in 2019 to $ 2.7 million in 2020 . Grew revenues reported under GAAP by 36 % , from $ 5.6 million in 2019 to $ 7.7 million in 2020 , and grew Proportional Revenues by 21 % , from $ 11.2 million in 2019 to $ 13.5 million in 2020 . Recorded historic high net income of $ 1.2 million in 2020 compared to $ 242,000 in 2019 , an increase of 382 % . Grew diluted Earnings Per Share by 375 % , from $ 0.20 in 2019 to $ 0.95 in 2020 . Increased working capital by 94 % year - over - year , from $ 1.8 million to $ 3.5 million as of December 31 , 2020 . Increased net cash by $ 1.1 million over the 12 - month period , from $ 2.1 million to $ 3.2 million at the end of 2020 . Adjusted EBITDA ( in $ ' 000s ) $ 2,672 $ 1,722 $ 1,181 $ 8 $ 776 2016 2017 2018 2019 2020 $ ( 2,325 ) $ ( 362 ) Net Income ( in $ ' 000s ) $ 150 $ 242 $ 1,166 2016 2017 2018 2019 2020 1