22:40:20 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Bee Vectoring Technologies International Inc
Symbol BEE
Shares Issued 65,099,271
Close 2018-02-16 C$ 0.28
Market Cap C$ 18,227,796
Recent Sedar Documents

Bee Vectoring closes private placement for $1.57M

2018-02-16 16:46 ET - News Release

Mr. Ashish Malik reports

BEE VECTORING CLOSES PRIVATE PLACEMENT

Bee Vectoring Technologies International Inc. has closed its non-brokered private placement for gross proceeds of $1,575,000. The offering was oversubscribed, and the company issued an additional 1.5 million units as to what was previously announced for a total of 6.3 million units of the company at a price of 25 cents per unit.

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 30 cents per common share until Feb. 16, 2019.

Bee Vectoring will apply the net proceeds of the offering to support its commercialization plans for the United States, for 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 $105,600 and the issue of 422,400 finders' warrants. Each finder's warrant entitles the holder to purchase one common share of the company at a price of 30 cents per common share until Feb. 16, 2019.

All securities issued or issuable under the offering are subject to a four-month hold period expiring on June 17, 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 Venture Exchange.

About Bee Vectoring Technologies International Inc.

Bee Vectoring 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 composed 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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