Mississauga, Ontario and Sacramento, California--(Newsfile Corp. - December 23, 2022) - Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF) (CVE: BEE) (the "Company" or "BVT") is pleased to announce the appointment of Ashish Malik to the Company's board of directors.
Mr. Malik is currently the Chief Executive Officer and President of BVT. He was previously the VP of Global Marketing for Biologics at Bayer CropScience. He was responsible for managing the portfolio of biological assets for the Company and advancing the strategy to develop integrated crop solutions that include biological products together with traditional chemical products, seeds, traits, seed treatments and services. Mr. Malik joined Bayer CropScience through the Company's acquisition of AgraQuest in 2012. At AgraQuest, he was Senior Vice President of Global Marketing and a member of the Company's Executive Team.
Mr. Malik's previous roles have included Head of Commercial Operations for the Home Care Division at Syngenta, Business Unit Director at Imerys and Marketing Manager at BFGoodrich. Mr. Malik serves on the Board of the Biological Products Industry Alliance, holds an MBA with concentrations in Finance and Marketing from Carnegie Mellon University - Tepper School of Business and a bachelor's degree in Engineering from Swarthmore College.
The Company also announces that it has granted an aggregate of 5,350,000 stock options (the "Options") to its directors, employees and consultants at a price of $0.12 per share for a period of ten years from grant, pursuant to its Stock Option Plan. The Options will vest immediately. In addition, an aggregate of 1,537,971 restricted share units (the "RSUs") have been granted to consultants and contractors for a period of five years from grant, pursuant to the Company's shareholder approved restricted share unit plan (the "RSU Plan"). 50% of the RSUs will vest immediately with the remaining 50% vesting four months from the date of issuance. Each RSU shall entitle the holder thereof to acquire one common share of the Company by delivering a notice of acquisition to the Company in accordance with the RSU Plan. In accordance with the RSU Plan, the RSUs were priced at $0.11 based on the closing price of the common shares on the Canadian Securities Exchange (CSE) on December 22, 2022. The RSUs were awarded to certain consultants and contractors who have agreed to restructure their compensation and receive RSUs in lieu of certain cash payments.
All securities granted are subject to a statutory four month and one day hold period that expires on April 24, 2023.
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 65 granted patents, over 35 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.
Company Contact:
Ashish Malik, President & CEO
info@beevt.com
Investor Contacts:
Babak Pedram (Canada & International)
Virtus Advisory Group
Tel: 416-995-8651
bpedram@virtusadvisory.com
William Maze (United States)
RB Milestone Group LLC (RBMG)
bee@rbmilestone.com