Mississauga, Ontario and Sacramento, California--(Newsfile Corp. - February 29, 2024) - Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF) (CVE: BEE) (the "Company" or "BVT") is pleased to announce an update on the Company's strategic partnership strategy with several multinational agriculture companies.
Partnership development is BVT's core strategy for quickly scaling business and substantially broadening its addressable market. Allocating resources to tap into large, established channels is the most cost-efficient way to access more buyers, enter more distribution and marketing channels, and utilize sales teams that are experienced and deeply embedded in key regions and key crops around the world.
"BVT is deliberately and aggressively moving forward with strategic partnership initiatives, and we are currently in a good position to do this with several global partners," said Ashish Malik, CEO of BVT. "Recent trial announcements in Spain with Agrobío, Mexico with a major multi-national grower, South Africa with MBFi, and expanding application of our proprietary plant-beneficial microbe, Clonostachys rosea CR-7, as a foliar application with our first sale to BioSafe, shows this is exactly what our multinational partners are looking for: large addressable markets with significant crop breadth, wide geography, and an array of application methods. By creating value for them, we are cementing long-term relationships with immeasurable value for BVT's future."
The Company is also pursuing partnerships in the large soybean seed treatment market, where one of the multinationals has conducted multi-year trials with BVT's CR-7. In the Company's own trials in the US, CR-7-treated soybean crops have consistently showed increased crop yields that outperformed the base seed treatment, producing larger, healthier plants.
- Wherever CR-7 was applied, the results outperformed the base seed treatment 81% of the time.
- On average, a three-bushel yield per acre increase was reported with CR-7 added, which is about 4% higher than the base seed treatment.
- Multi-year trials have shown CR-7 to be an effective treatment against Sudden Death Syndrome (SDS), a huge challenge for soybean growers.
"Our multi-year work has included trials around the globe, and we have ongoing collaborations with key agriculture industry players in a number of product development and crop areas," said Mr. Malik. "These initiatives have shown very promising results and market opportunities - successes that have intrigued these multinational businesses and encourage them to further pursue partnership with BVT."
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.
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