EquiTech Corporation Announces Re-Pricing of its Private Placement of Common Shares and Warrants
14:32 EDT Friday, June 10, 2005

EDMONTON, ALBERTA--(CCNMatthews - June 10, 2005) -

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EquiTech Corporation (TSX VENTURE:EQT) ("EquiTech") announces that it has amended the terms of its private placement originally fixed on April 13, 2005. As a result of the current market conditions, the board of directors of EquiTech has reduced the subscription price of its common share and warrant financing offering and the financing will continue on a best efforts basis with Dominick & Dominick (Toronto) and Northern Securities Inc. (Calgary). EquiTech will issue up to 7,500,000 units at $0.40 per unit (from $0.50) for total gross proceeds of $3,000,000 pursuant to certain exemptions from prospectus requirements. Each unit consists of one common share and one-half of a share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of $0.55 (from $0.75) for a period of 18 months from the closing date. The private placement is expected to close on or before June 30, 2005, and is subject to regulatory approval, completion of due diligence and definitive documentation. This engagement is subject to approval of the TSX Venture Exchange.

Proceeds of the common share offering will be used to fund EquiTech's clinical trials program.

EquiTech Corporation uses proprietary technology to create and develop better absorbing pharmaceutical products. EquiTech trades on the TSX Venture Exchange under the symbol EQT and currently has approximately 14.3 million common shares outstanding. For further information, visit www.equitechcorporation.com.

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. This press release may contain forward-looking statements, i.e. information that is not strictly historical, concerning EquiTech's business and prospects. Forward-looking statements are subject to a number of risks and uncertainties. Actual events and results may differ materially from those discussed in this press release, due to factors including research, development, commercial and market risks.

FOR FURTHER INFORMATION PLEASE CONTACT:

EquiTech Corporation James A. Chivers-Wilson President & CEO (780) 430-1633 Website: www.equitechcorporation.com

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