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BQE Water PRESS RELEASE August 25 , 2021 BQE Water Reports Q2 2021 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 interim consolidated financial results for the three and six months ended June 30 , 2021 . " Our financial results for the first half of the year have set new records for Proportional Revenue and Adjusted EBITDA , recording $ 5.7 million and $ 1.2 million respectively , " stated David Kratochvil , President & CEO of BQE Water . “ Building on the growth trajectory that started last year , we are going into the second half of this year with a positive outlook . So far this year , we have brought online two new water treatment plants that are contributing recurring revenues and our second Selen - IX ™ treatment plant , our first project outside of mining at an ash pond in the US , is expected to be fully operational by the year end . " FINANCIAL HIGHLIGHTS • Adjusted EBITDA for Q2 2021 was $ 1.4 million compared to $ 412,000 in Q2 2020 , a 248 % increase . Proportional Revenue for Q2 2021 was $ 4.2 million , a $ 1.4 million or 51 % increase from $ 2.8 million in Q2 2020 . • • Net Income increased by $ 864,000 to $ 809,000 in Q2 2021 , compared to a net loss of $ 55,000 in Q2 2020 . Working capital was $ 2.4 million at June 30 , 2021 , compared to $ 3.5 million at December 31 , 2020 , and $ 2.2 million at June 30 , 2020 , a 9 % increase over the last 12 months . Proportional Cash , which includes our share held in joint ventures , at June 30 , 2021 was $ 5.0 million , compared to $ 5.2 million at December 31 , 2020 , and $ 3.4 million at June 30 , 2020 , a 47 % increase over the last 12 months . OPERATIONAL SERVICES HIGHLIGHTS Our operational services consist of the operation of water treatment plants , which generate recurring revenues for the Company from two main sources : sales of recovered metals and water treatment fees . Revenues from Sales of Recovered Metals The Company operates four water treatment plants that generate revenues from the sale of recovered metals , three plants from the JCC - BQE Joint Venture ( " JCC - BQE " ) and one plant from the MWT - BQE Joint Venture ( " MWT - BQE " ) . JCC - BQE Joint Venture Our 50/50 joint venture with partner Jiangxi Copper Company ( " JCC " ) operates water treatment plants at Dexing Mine and at Yinshan Mine in Jiangxi province of China . The volume of water treated and pounds of copper recovered by the plants fluctuate seasonally depending on precipitation levels in the region . The operating results are as follows : 1