Bee Vectoring Technologies, Inc. Board of Directors Explores Strategic Alternatives
(via TheNewswire)
Mississauga, ON, Canada and Sacramento, CA, USA (May 31, 2024) –TheNewswire -The Board of Directors ofBee 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 roseastrain 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.
AboutBee 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 websitewww.beevt.com.To receive regular news updates from the Company, subscribe atwww.beevt.com/newsletter.
BVT Company Contact:
Ashish Malik, President & CEO, BVT
info@beevt.com