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
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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