Key Takeaways
- Debt Settlement Closure: Bee Vectoring Technologies (BVT) has finalized its debt settlement agreement.
- Equity Issuance: 2,765,138 Common shares issued at $0.06 each to settle $165,908.34 in legal fees.
- Statutory Hold Period: Issued securities are subject to a statutory hold period, expiring on March 25, 2024.
- Innovative Agriculture Technology: BVT, a crop protection and fertilizer market disruptor, utilizes natural precision agriculture systems.
- Environmental Benefits: BVT’s technology enhances crop protection and yield while safeguarding soil and environmental health.
Debt Settlement Details
Bee Vectoring Technologies International Inc., a key player in the agriculture technology sector, announced the completion of a debt settlement agreement initially disclosed on November 17, 2023. The company, operating in both Mississauga, Ontario and Sacramento, California, addressed its outstanding legal fees by issuing 2,765,138 Common shares. These shares, valued at a deemed price of $0.06 per share, were allocated to the creditor to settle a debt of $165,908.34 fully. The shares issued under this settlement are subject to a statutory hold period in line with applicable securities laws, set to expire on March 25, 2024.
Bee Vectoring Technologies Latest News:
BVT Achieves Remarkable Growth (2023/09/14)
Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF) is making waves in the agriculture industry with its groundbreaking precision agriculture system that utilizes commercially grown bees to deliver biological pesticide alternatives to crops. The company has recently announced a staggering 196% year-over-year sales growth in the Pacific Northwest blueberry market, accompanied by a high customer retention rate and the addition of new customers. This impressive growth demonstrates the immense potential of BVT’s eco-friendly approach to crop protection and highlights the increasing demand for sustainable farming practices.
BVT & BioSafe: Redefining Sustainable Agriculture (2023/09/29)
Bee Vectoring Technologies International Inc. (BVT) has partnered with BioSafe Systems to distribute its Clonostachys rosea CR-7 microbe in the foliar application market. This marks BVT’s entry into a new market segment and opens up new opportunities for sustainable agriculture. BVT will receive royalties from BioSafe Systems for each sale made. The efficacy of CR-7 as a biofungicide has been affirmed by BVT, paving the way for its use in the foliar business. This aligns with BVT’s strategic vision of discovering innovative applications for CR-7 and geographic expansion. With its precision vectoring technique, BVT aims to replace chemical pesticides and reduce wastage associated with traditional plant protection.
BVT Announces Share Issuance and Corporate Developments (2023/07/05)
Bee Vectoring Technologies International Inc. (BVT), an innovative agriculture technology firm, has announced plans to issue 1,111,370 common shares for $0.06 per share. This issuance is intended to settle a semi-annual interest payment due to Sorbie Bornholm LP following the issuance of 1,900 notes for gross proceeds of $1,900,000 from a private placement that closed on July 11, 2022. The shares will be issued under prospectus exemptions per Canadian securities laws, and there will be no hold periods or resale restrictions. The anticipated closing date for the private placement and share issuance is July 12, 2023.
BVT Expands Into Cranberry Market (2023/06/29)
Bee Vectoring Technologies International Inc. (BVT) has announced its expansion into the cranberry market by signing its first customer. The Wisconsin-based grower will use BVT’s proprietary Vectorite with CR-7 (Clonostachys rosea CR-7) biological fungicide and natural precision agriculture system in their cranberry fields for the upcoming growing season.
Bee Vectoring Technologies conducted a successful trial of its natural precision agriculture system in cranberry crops in 2022, resulting in increased yield and reduced fruit rot. The grower has doubled their BVT order for 2023. BVT has had success in other markets, including blueberries, strawberries, raspberries, and blackberries, and the expansion into cranberries signifies the company’s growing momentum. BVT’s precision vectoring system enables the delivery of biological pesticide alternatives to crops, resulting in enhanced crop protection and yield compared to traditional chemical pesticides.
Bee Vectoring Technologies Secures Order With US Blueberry Grower (2023/05/25)
Bee Vectoring Technologies International Inc. (BVT) has announced a record-setting sales order from one of the largest blueberry growers in the United States. The agreement will see the integration of BVT’s Vectorite with CR-7, a proprietary biological fungicide, into the grower’s operations in the Pacific Northwest for the upcoming season.
Bee Vectoring Technologies Reports On 2nd Year Trial Results (2023/03/08)
Bee Vectoring Technologies International Inc. has reported positive second-year trial results for its proprietary biological control agent Clonostachys rosea strain CR-7 (CR-7) on soybeans. The trials showed that adding CR-7 over the base seed treatment led to higher yields in soybean plants, as measured over 16 replicated plots across four locations. Furthermore, the results showed that CR-7 was equivalent to the chemical standard in effectiveness and even better than the biological standard. Additionally, the plant health, vigor, and biomass measures showed the same positive outcomes as in the first year, indicating the scalability of BVT’s proprietary CR-7 in the soybean seed treatment market.
Bee Vectoring Technologies Enters the CEA Market (2022/10/13)
Bee Vectoring Technologies International Inc. announced its first sales commitment in the Controlled Environment Agriculture market. A leading industry innovator in vertical farming will be conducting a paid pilot of the BVT system as a crop productivity tool. This sector holds significant growth opportunity for BVT given the global CEA market was valued at over US$74 billion in 2021 and is estimated to reach US$125 billion by 2027. The company’s Sales Manager, Ian Collinson, stated that CEA is the future of agriculture and can help indoor growers’ productivity by producing better quality fruits and vegetables. Meanwhile, the Company announced the resignation of Mark Kohler from the board of directors, effective October 7th, 2022.
