Mr. Ashish Malik reports

BEE VECTORING TECHNOLOGIES ANNOUNCES FURTHER GEOGRAPHIC EXPANSION WITH OFFICIAL SUBMISSION FOR REGULATORY APPROVAL IN CANADA

Bee Vectoring Technologies International Inc. has submitted its proprietary Clonostachys rosea CR-7 (CR-7) biological fungicide for regulatory review and approval in Canada. The submitted dossier includes CR-7 trial data already successfully completed, as well as studies into human safety, environmental impact, product efficacy and more, as required.

"Canadian growers face the same disease pressure as those in the US, and the adoption of biologicals in the country is growing rapidly," said Ashish Malik, CEO of BVT. "It's a strong market opportunity for BVT to scale our success in the US into Canada with our strong value proposition of sustainable agriculture."

Mr. Malik added, "BVT was granted an experimental use permit (EUP) from the regulatory agency which allows us to conduct demonstration trials in multiple crops in Canada starting in 2023, even before the regulatory approval is obtained, which will create demand for our system and assist in quicker adoption once registration is granted."

This application is part of a 2022 initiative to significantly increase BVT's geographic footprint and open new revenue streams by submitting in new jurisdictions as outlined in the Company's stated strategy. The Canadian submission follows on the Company's submission to Mexico regulatory authorities this past spring.

For the past two years leading up to the submission, BVT worked with the Health Canada Pest Management Regulatory Agency (PMRA), Canada's agency for pesticide regulation, in pre-submission consultations to preemptively and successfully address additional tests that the Company learned would be expected, including efficacy trials, which should mean a more efficient review process.

"A biological product typically takes 2 to 2.5 years for Canadian regulatory approval," said Sherri Tedford, Technical and Regulatory Manager at BVT. "Since we are headquartered and founded in Canada, we are very familiar with the agriculture landscape here and have had numerous pre-submissions requests resolved with PMRA and therefore do not anticipate any major issues with the submission."

The submission is focused on crops that require pollination by commercially reared and managed bees, such as strawberries, tomatoes, canola, blueberries, sunflowers, cherries and plums.

Canada is the world's second largest producer and exporter of blueberries after the US. They export over 50 million pounds of fresh cultivated blueberries, valued at CAD$125 million, and over 65 million pounds of frozen blueberries, valued at CAD$94 million,(1) with approximately 201,101 acres used to cultivate the crop.(2) The country also grows an estimated 15,515 acres of field tomatoes every year, with total production at 542,570 tonnes, valued at CAD$116.9 million. Fresh market tomatoes are the number one vegetable produced in greenhouses across Canada, totaling 256.4 million kg and valued at CAD$665.9 million.(3) BVT has seen significant success in positioning its system in blueberries in the United States.

Canadian farmers also produce 20 million tonnes of canola annually, grown on 20 million acres.(4) It is one of the country's most widely grown crops, generating approximately 25% of all farm crop receipts. The most economically significant canola disease in Canada is Sclerotinia stem rot and BVT's natural precision agriculture system has the potential to control significant diseases like Sclerotinia which cause hundreds of millions of dollars in lost yield ever year. The disease is hard to detect and once infected hard to treat. The BVT system can deliver biological fungicide directly to the bloom and colonize the plant, protecting it prior to infection.

"BVT has established strong relationships with growers across the US since EPA approval in August 2019, helping them in multiple years achieve better crop results, and we anticipate assisting Canadian growers in the same way," continued Mr. Malik.

(1) Source: Agriculture and Agri-Food Canada (AAFC), 2016(2) Source: Statista, 2022(3) Source: Statistics Canada, 2021(4) Source: Canola Council of Canada, 2022

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(TM) 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.

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