08:07:56 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Bee Vectoring Technologies International Inc
Symbol BEE
Shares Issued 133,901,369
Close 2023-03-06 C$ 0.105
Market Cap C$ 14,059,644
Recent Sedar Documents

Bee Vectoring closes $179,000 private placement

2023-03-06 17:28 ET - News Release

Mr. Ashish Malik reports

BEE VECTORING TECHNOLOGIES CLOSES NON-BROKERED PRIVATE PLACEMENT AND DEBT SETTLEMENT

Bee Vectoring Technologies International Inc. has closed a non-brokered private placement of 1,491,667 units issued at a price of 12 cents per unit for gross aggregate proceeds of $179,000. Each unit comprised one common share and one common share purchase warrant. Each warrant is exercisable to acquire one additional share of the company for a period of 36 months from closing at a price of 20 cents.

The Company paid $840.00 in cash and issued 7,000 Warrants on the same terms noted above to qualified parties in connection with the Private Placement. The Company intends to use the gross proceeds from the Private Placement to fund its ongoing growth strategy in the agricultural space, for continued research and development and general working capital purposes.

The Company also announces that it has entered into a debt settlement agreement (the "Settlement Agreement") to settle an outstanding cash payment owed to an arm's length creditor in the amount of $157,180 for consulting fees (the "Debt Settlement"). Pursuant to the Settlement Agreement, the Company has issued an aggregate of 1,310,000 Shares to the creditor at a deemed price of $0.12 per Share.

All securities issued pursuant to the Private Placement and Debt Settlement are subject to a statutory hold period that will expire on July 7, 2023, in accordance with applicable securities laws.

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.

We seek Safe Harbor.

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