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Newsfile Corp Mississauga, Ontario and Sacramento, California--(Newsfile Corp. - February 1, 2021) - Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF) (CVE: BEE) (the "Company" or "BVT")today announced it has been issued a commercial license from the California Department of Pesticide Regulation (CDPR) on its proprietary Vectorite with CR-7 (Clonostachys rosea CR-7) (CR-7) biological fungicide following completion of the CDPR approval review process last month. BVT's product is now available for sale in California. Previously, the Company had received its US Environmental Protection Agency (EPA) approval in August 2019. "This license is an important milestone for BVT, as it enables us to begin commercial operations in California, the largest agriculture market in the US. Our first objective in California is to secure grower trials in our key crops, including blueberries, raspberries, blackberries, strawberries and - for the first time, almonds," said Ian Collinson, Sales Manager of Bee Vectoring Technologies. "Discussions are already occurring for six trials with significant growers that if successful, would even further expedite the time until we begin generating revenue out of this new, untapped market." California is BVT's largest and most crop-diverse market opportunity in the US, where there are 1.3 million(1) acres of key crops for the Company to target, which includes strawberries, blueberries, caneberries and almonds. Overall, California is the largest US state for cash farm receipts and represents over a third of the vegetables and two thirds of the fruits and nuts production in the US.(2) California is also a significant exporter of crops where farmers have to manage residue levels of pesticides and where products like CR-7 have a big benefit. California exports over $20 billion of agricultural crops, which is about 40% of their total production value.(3) "BVT is delivering innovative strategies and solutions that address grower productivity and sustainability goals," continued Mr. Collinson. "CR-7 is a key component of an integrated pest management program that helps growers naturally protect crops from damaging disease pressures during the bloom period. This enables them to increase marketable yield and improve fruit shelf life while lowering chemical residues. It also allows them to be more competitive in the US and export markets, since BVT's EPA approval exempts CR-7 from residue tolerance testing. |