Mr. Ashish Malik reports

BEE VECTORING TECHNOLOGIES ANNOUNCES DEBT SETTLEMENT

Bee Vectoring Technologies International Inc. has entered into debt settlement agreements to settle outstanding cash payments owed to certain creditors totalling $1.13-million. Pursuant to the settlement agreements, the company has agreed to issue an aggregate of 18,833,334 common shares at a deemed price of six cents per common share. The company anticipates closing the settlement agreements on or about Jan. 3, 2024.

Securities issued pursuant to the settlement agreement will be subject to a statutory hold period of four months plus a day from issuance in accordance with applicable securities laws.

The company has issued an aggregate of 6,868,155 restricted share units (RSUs) to directors, employees and consultants pursuant to the company's shareholder approved restricted share unit plan. 50 per cent of the RSUs will vest immediately, with the remaining 50 per cent vesting in ranges between three months and four months from the date of issuance. Each RSU shall entitle the holder thereof to acquire one common share of the company by delivering a notice of acquisition to the company in accordance with the RSU plan. In accordance with the RSU plan, the RSUs were priced at five cents, which was above the closing market price on Dec. 21, 2023. The RSUs were awarded to directors, employees and consultants who have agreed to restructure their compensation and receive RSUs in lieu of certain cash payments for future services.

About Bee Vectoring Technologies International Inc.

Bee Vectoring, an agriculture technology company, is a market disruptor with a significant global market opportunity in the $240-billion crop protection and fertilizer market. The company 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'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 has 55 granted patents and over 35 patents pending in all major agricultural countries worldwide, and has U.S. Environmental Protection Agency (EPA) 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.

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