Mr. Ashish Malik reports

BEE VECTORING TECHNOLOGIES ANNOUNCES FIRST-TIME REVENUES AND ACCELERATED MOMENTUM IN US SUNFLOWER MARKET

Bee Vectoring Technologies International Inc. has secured its first revenue commitments with U.S. sunflower growers and has expanded into other activities within this crop, including demonstration and research trials. This marks significant progress in penetrating the $470-million (U.S.) (1) sunflower market.

"What BVT has accomplished in the first half of 2021 has put us on a fast track for accelerating growth, all due to our focus on diversifying the company's revenue mix," said Ashish Malik, chief executive officer of Bee Vectoring. "In addition to making inroads into the sunflower market with first-time revenues, we accelerated market penetration in the berry and almond markets, kick-starting California and New Jersey with initial trials, and securing revenues in the U.S. southeast, Midwest and Pacific Northwest. These milestones ensure a diverse revenue base for continued growth and maximized shareholder value. They also show that our product solution is gaining traction with new American growers and that we have excellent customer retention. With our success in multiple crops and as we continue to widen the geography of our sales reach, we are strengthening our foothold in the [United States], which will expedite our business expansion."

"BVT's first revenue commitments with sunflower growers in the U.S. Midwest are for commercial pilots of BVT's natural precision agriculture system on portions of their crop fields," said Ian Collinson, sales manager at Bee Vectoring. "We have also expanded our market reach by making inroads into a second major growing region for sunflowers, with the first U.S. Pacific coast based demonstration trial for this crop now being conducted in two locations with a global sunflower seed producer.

"Successfully getting to initial revenue in the sunflower market is the result of BVT's hard work and investment in conducting sunflower trials in the U.S. Midwest, working closely with key university researchers in the crop who confirmed the potential of our product," continued Mr. Collinson.

This entry into the sunflower market is based on the successful first-year results of the multiyear North Dakota State University (NDSU) trials of Bee Vectoring's biological fungicide, CR-7. Funded by the North Dakota Department of Agriculture and approved by the U.S. Department of Agriculture (USDA), the trials are run by NDSU in co-operation with Bee Vectoring. The trials provide the critical data points needed to sell in the sunflower market, where 1.3 million (2) acres are harvested annually in America alone.

Trial results proved that the system is effective and efficient for sunflower growers to use for disease control and improve yields. The results validated the technology, quantified hive distribution needed to achieve satisfactory sclerotinia head rot control (in both disease incidence and severity), measured increased yield results and reduced sclerotia contamination. Data collected in the first year have also enabled Bee Vectoring to identify the segments of the sunflower industry that have the greatest potential for the company's system: seed production and higher-value contracted oil and confectionary production.

"Sclerotinia head rot is a major challenge for sunflower producers and has been identified as a high priority by the National Sunflower Association," said Sherri Tedford, laboratory and field testing manager at Bee Vectoring. "First-year trial data from two sites indicate Bee Vectoring reduced incidence and severity of sclerotinia head rot by up to 62 per cent over the control plots and increased yield by about 15 per cent. Bee Vectoring treated sunflowers also have less sclerotia contamination (down from 6.1 and 7.4 per cent in the control plots to 3.1 and 3.3 per cent in the BVT treated plots), well below the 4-per-cent maximum level allowed for processing seeds into oil for human consumption. This is important for growers, as seeds for human consumption can be sold for a higher price than seeds for other purposes, such as animal feed."

Bee Vectoring will continue the state-funded trials through the next two growing seasons, starting this August, to further refine recommendations for hive/dispenser numbers and placements, and further strengthen the Bee Vectoring value proposition and return on investment for growers. Originally approved for two years, these state-funded trials have just been extended for an additional third year.

"The disease management practices data from the NDSU trials won't just help producers in North Dakota, but those in neighbouring states (Minnesota, Montana and South Dakota) and provinces (Manitoba and Saskatchewan) as well," continued Mr. Malik. "With minor adjustments, they will be applicable to producers in other parts of the world, increasing our potential scale to drive sustained growth through revenue diversity."

(1) (2) Source: 2016 and 2017 National Ag statistical service (NASS).

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 65 granted patents and over 35 patents pending in all major agricultural countries worldwide, and has U.S. EPA (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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