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Newsfile Corp Mississauga, Ontario and Sacramento, California--(Newsfile Corp. - May 31, 2022) - Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF) (CVE:BEE) (the "Company" or "BVT") today announced its next Investor Webinar, to be held on June 8, 2022. In it, BVT CEO Ashish Malik will share the Company's progress over the first half of the year and discuss 2022 initiatives and commercialization strategies. Register for the Webinar at https://us02web.zoom.us/webinar/register/WN_fHK51SxoRt2oVRmA9ZaDhg. "I look forward to sharing details of the Company's success in executing its strategy through March 31, 2022," says Mr. Malik. "We have made meaningful progress in all three parts of our corporate strategy: continued commercial progression in the US; geographic expansion; and portfolio expansion and extension." BVT's business is seasonal and follows bloom cycles as they occur at different times for different crops during the year across the US. The BVT system is used in the Southeast from December to March, in Northern US and the Pacific Northwest from April to June and even beyond for some late blooming varieties, and in California for most of the year. "Revenue in the first half of fiscal 2022 was flat compared with 2021, when accounting for differences in invoice timing," says Mr. Malik. "However, with existing commitments in place and a strong pipeline, growth is expected in the remaining quarters of this year, with additional new customers and revenue expected from states with later growing seasons. We are seeing high demand in berry markets across the US and commitments for sales and commercial demos, with the latter being an indication of future sales prospects, and we are expecting to be well ahead of 2021." "Q2 2022 results reflect the very difficult conditions faced by farmers in the Southeast, particularly in Georgia, which is currently BVT's biggest market. Growers faced fertilizer and fuel price increases of 40% to 100% over the last year and hard freezes hit the state just before and during the blueberry bloom period, leading to partial or complete crop losses. Despite these challenges, BVT maintained its level of sales in Georgia." During the Webinar, Malik will provide additional details on: - BVT's activities to expand into crops beyond berries, including a robust program of almond trials and grower demos, which represents a significant opportunity;
- The Company's first cherry trial, which marks BVT's entry into the stone fruit crop group;
- Strategic expansion projects underway in Peru, Mexico, Canada, the European Union, and via partnerships in other countries; and
- Expansion of BVT's product portfolio and extension of its proprietary plant beneficial microbe Clonostachys rosea CR-7 ("CR-7?) into new markets including:
"We continue to focus on executing our long term growth strategy and are confident that our strategy will provide stable and substantial revenue streams as our technology continues to become an integral part of sustainable agriculture for the future," adds Mr. Malik. Investor Webinar Details The BVT Investor Webinar will take place on Wednesday, June 8, 2022 from 1:00pm to 2:00pm Eastern Standard Time. It will be hosted by BVT CEO Ashish Malik and moderated by Virtus Advisory. Individuals wishing to participate in the Investor Webinar can register at https://us02web.zoom.us/webinar/register/WN_fHK51SxoRt2oVRmA9ZaDhg. Participants will receive an email confirmation with a unique access code, which can be used to access the call via phone, or, alternatively, via web link for those wishing to view visuals during the update. It is expected that there will be time for participants to ask questions. To submit questions beforehand, email info@beevt.com with the subject line "BVT Web Investor Call Question." Please access the website 10 minutes prior to the start of the call to download and install any necessary audio software. Following the Webinar, an archived video replay will be available shortly after. |