Exhibit 1
Joint Filing Agreement
AGREEMENT dated as of November 1, 2007, between Pinetree Income Partnership and
Pinetree Capital Ltd. (collectively, the "Parties").
Each of the Parties hereto represents to the other Party that it is eligible to
use Schedule 13G to report its beneficial interest in shares of common stock, no
par value per share, of Valcent Products, Inc. ("Schedule 13G") and it will file
the Schedule 13G on behalf of itself.
Each of the Parties agrees to be responsible for the timely filing of the
Schedule 13G and any and all amendments thereto and for the completeness and
accuracy of the information concerning itself contained in the Schedule 13G, and
the other Parties to the extent it knows or has reason to believe that any
information about the other Parties is inaccurate.
PINETREE INCOME PARTNERSHIP
By: /s/ Xxxxx Xxxxxxxx
-------------------------
Name: Xxxxx Xxxxxxxx
Title: Authorized Signing Officer
PINETREE CAPITAL LTD.
By: /s/ Xxxxx Xxxxxxxx
-------------------------
Name: Xxxxx Xxxxxxxx
Title: Executive Vice President and
Chief Financial Officer
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