Ms. Ashish Malik reports

BEE VECTORING TECHNOLOGIES CLOSES DEBT SETTLEMENT, MAKES DRAW DOWN UNDER CREDIT AGREEMENT AND ISSUES RSUS

Further to the news release dated April 23, 2024, Bee Vectoring Technologies International Inc. has closed the previously announced debt settlement and issued 11,037,485 common shares at a price of 3.5 cents per common share (the settlement shares), to fully settle outstanding debts owed to a creditor (the creditor) in the amount of $386,312.

All securities issued pursuant to the debt settlement are subject to a statutory hold period that will expire on Aug. 31, 2024, in accordance with applicable securities laws.

The company also announces that is has drawn down the third tranche of $100,000 in secured promissory notes from the previously announced loan agreement dated Dec. 11, 2023, and it has issued 2.6 million common shares at a price of five cents per common share. The conversion of the notes into common shares included a 10-per-cent repayment penalty fee and a 20-per-cent facilitation fee payable to the noteholders. The common shares issued in satisfaction of the notes were issued in accordance to National Instrument 45-106 Section 2.42 and are free trading from issuance.

The company has also issued an aggregate of 3,539,625 restricted share units (the RSUs) to employees and consultants pursuant to the company's restricted share unit plan (the RSU plan). A portion of the RSUs will vest immediately with the remaining RSUs vesting 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 April 30, 2024. The RSUs were awarded to employees and consultants who have agreed to restructure their compensation and receive RSUs in lieu of certain cash payments for future services. All of the noted RSUs remain subject to the company receiving shareholder approval of its RSU plan at its annual general and special meeting which is being rescheduled for early July, 2024.

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. Bee Vectoring 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 over traditional chemical pesticides and improving the health of the soil, the microbiome and the environment. Currently, Bee Vectoring has over 55 granted patents and 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.

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