18:59:29 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Bee Vectoring Technologies International Inc
Symbol BEE
Shares Issued 54,579,771
Close 2017-09-19 C$ 0.22
Market Cap C$ 12,007,550
Recent Sedar Documents

Bee Vectoring completes $784,400 private placement

2017-09-19 14:40 ET - News Release

Mr. Ashish Malik reports

BEE VECTORING CLOSES PRIVATE PLACEMENT

Bee Vectoring Technologies International Inc. has completed a non-brokered private placement of 3.92 million units of the company at a price of 20 cents per unit for gross proceeds of $784,400.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder to purchase one additional common share at a price of 35 cents per common share until Sept. 19, 2019, subject to the company's right to accelerate the expiry date of the warrants if the closing market price of the common shares of the company on the TSX Venture Exchange is equal to or exceeds 50 cents for a period of 20 consecutive trading days any time after Jan. 20, 2018. The company will be entitled to accelerate the expiry of the warrants upon notice given by press release (disseminated through a newswire service in Canada) and the warrants will then expire on the 15th business day after the date of the press release unless exercised by the holder prior to such date.

BVT will apply the net proceeds of the offering to support its commercialization plans for the United States, continuation of selective market expansion projects including developing opportunities in additional crops and advancing registration activities in new countries, and for general working capital purposes.

The company paid commissions to finders under the offering consisting of cash fees of $18,840 and the issue of 89,700 finder's warrants. Each finder's warrant entitles the holder to purchase one common share of the company at a price of 35 cents per common share until Sept. 19, 2019, subject to the acceleration terms as mentioned above.

All securities issued or issuable under the offering are subject to a four-month hold period expiring on Jan. 20, 2018, in addition to such other restrictions as may apply under applicable securities laws in jurisdictions outside of Canada.

Final closing of this offering has received final acceptance by the TSX-V.

About Bee Vectoring Technologies International Inc.

BVT has developed and owns patent-pending bee vectoring technology that is designed to harmlessly utilize bumblebees and honeybees as natural delivery mechanisms for a variety of powdered mixtures comprising of organic compounds that inhibit or eliminate common crop diseases, while at the same time stimulating and enhancing the same crops. This unique and proprietary process enables a targeted delivery of crop controls using the simple process of bee pollination to replace traditional crop spraying, resulting in better yields, superior quality and less impact on the environment without the use of water or disruptions to labour.

We seek Safe Harbor.

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