Mississauga, ON, Canada and Sacramento, CA, USA (May 31, 2024) – TheNewswire - The Board of Directors of Bee Vectoring Technologies International Inc. (the “Company” or “BVT”) (CSE: BEE) (OTCQB: BEVVF) (CVE:BEE) announced today that it is exploring strategic alternatives, including a potential sale, to enhance the Company’s ability to bring innovative biocontrol technologies to market. This decision is driven by the goal of identifying a more capitalized parent company that can amplify the commercial success of BVT’s groundbreaking solutions.

 

BVT has demonstrated success with its proprietary biological control agent, Clonostachys rosea strain CR-7 (CR-7), in global field trials and is witnessing the early stages of commercialization.

 

“The Company has developed both a viable biofungicide for seed treatment, foliar and soil applications, and a novel delivery system for biopesticide solutions, generally. We have reached a critical inflection point in our Company’s life cycle, transitioning from a predominantly R&D-focused entity, BVT is now poised to accelerate its commercialization efforts,” said Michael Collinson, Chairman of the Board.

 

Management is confident in the novelty of its technology. A notable achievement is the vectoring delivery system for its biofungicide, which has held EPA registration since 2019. This technology exemplifies BVT’s innovative approach and potential for significant market impact. Despite a significant reduction in sales and marketing investments, brought by the need to manage its operations to maintain financial stability in current capital market challenges, BVT continues to receive strong support from its customer base. Approximately 20 returning customers have placed orders thus far this season, underscoring the effectiveness and return on investment provided by BVT’s natural precision agriculture system.

 

While the Board evaluates strategic options, BVT remains committed to its operations and continues to drive its products to market. The exploration of strategic alternatives aims to ensure that BVT’s pioneering technologies reach their full potential, benefiting the agricultural sector and enhancing crop protection methods.

 

The Agribusiness industry team of Roth Capital Partners, a full service investment bank, has been retained as the exclusive financial adviser to the board.

About Bee Vectoring Technologies International Inc.

BVT, an agriculture technology company, is a market disruptor with a significant global market opportunity in the $240 billion crop protection and fertilizer market. BVT has pioneered a natural precision agriculture system that replaces chemical pesticides and wasteful plant protection product spray applications by delivering biological pesticide alternatives to crops using commercially grown bees. BVT’s award-winning technology, precision vectoring, is completely harmless to bees and allows minute amounts of naturally-derived pesticides (called biologicals) to be delivered directly to blooms, providing improved crop protection and yield results than traditional chemical pesticides – and improving the health of the soil, the microbiome and the environment. Currently, BVT has over 55 granted patents, many more patents pending in all major agricultural countries worldwide and has US EPA registration of its Vectorite™ with CR-7 (EPA Registration No. 90641-2) for sale as a registered biological fungicide for use on the labeled crops.

Additional information can be viewed at the Company’s website www.beevt.com. To receive regular news updates from the Company, subscribe at www.beevt.com/newsletter.

 

BVT Company Contact:

Ashish Malik, President & CEO, BVT

info@beevt.com

 

BVT Investor Contacts:

Babak Pedram

Virtus Advisory Group
Tel: 416-646-6779
bpedram@virtusadvisory.com

The CSE has neither approved nor disapproved the contents of this press release. The CSE does not accept responsibility for the adequacy or accuracy of this release. Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to the Company, “annual revenue potential”, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company’s current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions, including: planted acres, selling price of competitive chemical pesticides and the US to Canadian dollar exchange rate. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include changes in law, competition, litigation, the ability to implement business strategies and pursue business opportunities, state of the capital markets, the availability of funds and resources to pursue operations, new technologies, the ability to protect intellectual property rights, the ability to obtain patent protection for products, third-party intellectual property infringement claims, regulatory changes affecting products, failing research and development activities, the ability to reach and sustain profitability, dependence on business and technical experts, the ability to effectively manage business operations and growth, issuance of debt, dilution of existing securities, volatility of publicly traded securities, potential conflicts of interest, unlikelihood of dividend payments, the potential costs stemming from defending third-party intellectual property infringement claims, the ability to secure relationships with manufacturers and purchasers, as well as general economic, market and business conditions, as well as those risk factors discussed or referred to in the Company’s Filing Statement dated August 14,2020, filed with the CSE and securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. All figures are in Canadian dollars.