Mr. Ashish Malik reports

BEE VECTORING TECHNOLOGIES SECURES UP TO $1 MILLION LOAN FINANCING

Bee Vectoring Technologies International Inc. has entered into a secured loan agreement dated Dec. 11, 2023, with two capital firms, whereby it will secure a loan of up to $1-million on a credit facility basis.

The loan will be financed in tranches of $100,000 at the company's discretion. Each tranche will be secured and evidenced by promissory notes. The company reserves the right to choose the method of settlement for each note within a two-year period, either through cash repayment or issuing common shares. Each tranche must be repaid (in cash or shares) in advance of the lenders making a subsequent tranche of funding available to the company. It will be the company's intention to issue shares equivalent to the principal amount of each note to repay each tranche. The price for these shares will be determined based on the 20-day volume-weighted average price (VWAP), subject to a minimum price of five cents, with up to a maximum of 20 million shares being issued pursuant to the loan.

Outstanding debt on each note carries an annualized interest rate of 15 per cent which starts after the fifth day from when the company closes a tranche. The company can also pay any accrued interest through shares based of a 20-day VWAP as noted above.

As security for the payment of the company's obligations and fulfilment and satisfaction of all covenants and agreements made under the loan agreement, and any notes thereunder, the company will enter into a general security agreement with the lenders for each tranche, pursuant to which the company has granted a security interest in product inventory and equipment of the company up to the amount of each tranche.

The company intends to use the proceeds from each tranche to finance its continuing growth strategy in the agricultural space, for continued research and development, marketing services, and general working capital purposes. The company intends to close the first tranche on or about Dec. 20, 2023, with up to nine additional tranches to be drawn over the course of up to two years. The company will make an announcement when each tranche is drawn.

Subject to compliance with applicable regulatory requirements, the notes will be issued pursuant to subsection 73.2(1)a of the Securities Act (Ontario), and will be free trading from issuance. Shares issued pursuant to the conversion of notes will be issued pursuant to National Instrument 2.42(1), and will also be free trading from issuance. The shares issued as consideration payable for the facilitation fee will be subject to a four-month-and-one-day hold in accordance with Canadian securities law.

About Bee Vectoring Technologies International Inc.

Bee Vectoring Technologies International, an agriculture technology company, is a market disruptor with a significant global market opportunity in the $240-billion crop protection and fertilizer market. Bee Vectoring Technologies International 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. Bee Vectoring Technologies International'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, Bee Vectoring Technologies International has over 55 granted patents, many more patents pending in all major agricultural countries worldwide and has U.S. Environmental Protection Agency registration of its Vectorite with CR-7 (EPA registration No. 90641-2) for sale as a registered biological fungicide for use on the labelled crops.

We seek Safe Harbor.