Mississauga, Ontario and Sacramento, California--(Newsfile Corp. - January 16, 2024) - Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF) (CVE: BEE) (the "Company" or "BVT") is pleased to announce South African multi-national agricultural technology business Microbial Biological Fertilizers International (MBFi) has commenced trials of BVT products in South Africa. They will be evaluating BVT's patented bee vectoring dispenser for honeybees with proprietary Vectorite powder, initially testing with MBFi's own biological strain as a comparison with traditional spray applications.
MBFi manufactures agricultural products for the South African farming industry, supplying fertilizer, bio-stimulants, biologicals and adjuvants.
"We are extremely interested in BVT's bee vectoring application as a breakthrough and gamechanger for effective delivery of biological agents," said Jonathan Etherington, Co-founder and Director at MBFi. "We approached BVT more than a year ago to look at this novel technology because in South Africa, we have the same concerns as Europe around the use of traditional chemical pesticides."
"Utilizing MBFi's already registered biological, BVT can rapidly enter the South African market and add a significant new revenue stream," said Ashish Malik, CEO of BVT. "Our strategy also involves MBFi registering BVT's proprietary microbe, Clonostachys rosea CR-7 (CR-7) for South African regulatory approval. Effective implementation of this strategy would significantly increase CR-7's addressable market."
Trials are being conducted on grower crop fields including macadamias, avocados, apples, strawberries, blueberries and cherries, timed for the start of each crop's bloom period. MBFi will also extend the trials to include sunflowers and canola. In South Africa, macadamia, avocado, applies, strawberries, blueberries and cherry crops cover over 85,000 hectares of farmland,(1) with sunflowers and canola adding another 520,000.(2)
"MBFi is a company known for excellence," said Christoph Lehnen, BVT Business Manager for Europe, Africa and Middle East. "They know how important it is to develop strong working relationships with their farmers, distributors, researchers, suppliers and staff: the partnership with BVT enables them to provide the quality and innovation their customers expect. They are a very strong fit to bring expertise and accelerate BVT's go-to-market strategy in South Africa."
(1)(2) Source: Statistics South Africa
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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SOURCE: Bee Vectoring Technologies International Inc.
