Edmonton, Canada – EquiTech Corporation (TSX Venture Exchange: EQT) (the "Corporation") is pleased to announce that, in accordance with the policies of the TSX Venture Exchange, an option to purchase 55,000 common shares will be granted to Analgesic Development Ltd., a corporation beneficially owned by Dr. Abraham Sunshine, and an option to purchase 25,000 common shares will be granted to Dr. Sunshine personally, each at an exercise price of $1.57 per common share with an expiry date of June 1, 2007, subject to regulatory approval. The options are granted pursuant to certain consulting agreements which the Corporation has entered into with Dr. Sunshine.

The Corporation is a fully listed biopharmaceutical company that has a unique technology platform to develop Performance Enhanced Pharmaceuticals. The Corporation's lead compound is a fast absorbing oral medication for the treatment of moderate acute pain.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The securities of the corporation have not been and will not be registered under the U. S. Securities Act, 1933, as amended, and subject to certain exemptions may not be offered or sold in the United States or to U. S. persons. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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