Mississauga, Ontario and Sacramento, California--(Newsfile Corp. - June 18, 2021) - Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF) (CVE: BEE) (the "Company" or "BVT") is pleased to announce the appointment of Mark W. Kohler to its Board of Directors. Mr. Kohler is a Certified Corporate Director having obtained his ICD.D designation from the Rotman School of Management at the University of Toronto, and he holds Chartered Professional Accountant (CPA) and Chartered Accountant (CA) designations.
"On behalf of the Board of Directors, we are thrilled Mark has accepted the appointment and would like to welcome him to the Board. Mark's extensive experience across capital markets and technology will be a significant asset as we continue to accelerate the commercialization of BVT," said Michael Collinson, Chairman of BVT. "Mark's current and past Board experience will also strengthen BVT's corporate governance stance which is an important consideration as the Company looks to increase its reach in the US. We look forward to working closely with Mark."
Mr. Kohler has over 33 years of experience as an entrepreneur, investor, financial executive, and board member at leading technology and financial services organizations in North America. With extensive experience as a C-Level financial executive at both private and publicly listed growth organizations, he is best known as a keen supporter of technology companies, efficient capital deployment, and growth strategies.
"BVT has a very compelling technology and a strong patent portfolio, with a significant market opportunity in the global ag industry to be a leading provider of sustainable agriculture innovation," said Mr. Kohler. "I look forward to helping BVT accelerate the commercialization and growth of its technologies."
Mr. Kohler is the Chairman and CEO of Exelerate Capital (Toronto), a strategic advisory merchant banking group founded in 2001, that provides governance/risk/compliance (GRC), corporate finance, mergers and acquisitions, enterprise strategy, data privacy, and cyber security services to technology and high growth services organizations in Canada and the US.
He is also the Chairman of CloudMD Software & Services Inc., a digital health technology and EHS company based in British Columbia. Since Mr. Kohler joined its Board in March 2020, CloudMD has raised over $70 million and acquired six companies in 2020, and has raised an additional $63 million in the spring of 2021, resulting in a market capital increase from approx. $38 million to $425 million.
Mr. Kohler is known to be an innovator in his roles with Boards in North America, including in his past role as the Executive Chairman at QHR Corporation where he led the Board and management through its profitable and strategic transformation that resulted in the sale of the company to Loblaw Companies Limited for approx. $170 million. He was also the Chairman of the Board for Community Trust, one of Canada's leading OSFI - federally regulated Trust Companies (since sold to Questrade Inc.), where he led the design of the Bank's Enterprise Risk Management Framework, and the adoption of its leading Corporate Governance practices. Most recently, he was the Audit Committee Chairman at Versapay Corporation, which was sold at a significant gain to a US-based private equity fund in February 2020, for approximately $126 million.
In connection with Mr. Kohler's appointment to the Board of Directors, the Company has also granted him 125,000 restricted share units ("RSUs) under the Company's shareholder approved restricted share unit plan (the "RSU Plan"). The RSUs will vest immediately upon issuance and shall entitle Mr. Kohler the ability to acquire one common share (a "Share") of the Company underlying each such RSU 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 $0.31 based on the closing price of the Shares on the Canadian Securities Exchange (CSE) on June 17, 2021.
The Company also advises that Claude Flueckiger has resigned from the Board of Directors effective June 30, 2021. The Company wishes to thank Mr. Flueckiger for his numerous contributions to BVT and wishes him well with his current and future endeavors.
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™ with CR-7 (EPA Registration No. 90641-2) for sale as a registered biological fungicide for use on the labeled crops.
Additional information can be viewed at the Company's website www.beevt.com. To receive regular news updates from the Company, subscribe at www.beevt.com/newsletter.
Ashish Malik, President & CEO
Babak Pedram, Investor Relations
Virtus Advisory Group
The CSE has neither approved nor disapproved the contents of this press release. The CSE does not accept responsibility for the adequacy or accuracy of this release. Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to the Company, "annual revenue potential", are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions, including: planted acres, selling price of competitive chemical pesticides and the US to Canadian dollar exchange rate. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include changes in law, competition, litigation, the ability to implement business strategies and pursue business opportunities, state of the capital markets, the availability of funds and resources to pursue operations, new technologies, the ability to protect intellectual property rights, the ability to obtain patent protection for products, third-party intellectual property infringement claims, regulatory changes affecting products, failing research and development activities, the ability to reach and sustain profitability, dependence on business and technical experts, the ability to effectively manage business operations and growth, issuance of debt, dilution of existing securities, volatility of publicly traded securities, potential conflicts of interest, unlikelihood of dividend payments, the potential costs stemming from defending third-party intellectual property infringement claims, the ability to secure relationships with manufacturers and purchasers, as well as general economic, market and business conditions, as well as those risk factors discussed or referred to in the Company's Filing Statement dated August 14,2020, filed with the CSE and securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. All figures are in Canadian dollars.
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