Bee Vectoring Technologies International Inc. has entered into a secured loan agreement with two capital firms for gross proceeds of up to CAD 1,000,000 on December 11, 2023. 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. The loan carries an annualized interest rate of 15% which starts after the fifth day from when the company closes a tranche. The company intends to close the first tranche on or about December 20, 2023, with up to nine additional tranches to be drawn over the course of up to two years.