Mississauga, Ontario and Sacramento, California--(Newsfile Corp. - August 24, 2020) - Bee Vectoring Technologies International Inc. (CSE: BEE) (TSXV: BEE) (OTCQB: BEVVF) (the "Company" or "BVT") today announced a new multi-year blueberry research trial with the Institute for Sustainable Horticulture (ISH) at Kwantlen Polytechnic University (KPU) in British Columbia (BC), Canada. The ISH is a leading partnership of academia with BC's horticultural industries and the community. ISH supports BC in meeting demands for a higher level of sustainability and environmental responsibility from horticulture, and urban landscapes.
Canada is the world's second largest producer and exporter of blueberries, after the United States. Canada exports over 50 million pounds of fresh cultivated blueberries valued at CAD$125 million, and over 65 million pounds of frozen blueberries valued at CAD$94 million.(1) And as one of Canada's main blueberry growing regions, BC is a key test region for BVT technology. This multi-year trial builds on the momentum that BVT has achieved in the US blueberry market with successful grower deals over the last growing season since EPA approval in 2019.
"British Columbia's climate, high disease pressures and agricultural practices align well with our technology," says Ashish Malik, CEO of Bee Vectoring Technologies. "The Institute for Sustainable Horticulture at KPU has an established relationship with the BC Blueberry Council. They are keen to investigate new, sustainable disease management tools, and are well suited to manage these trials as the lead research group."
Local growers will be tapped for trial locations which will help build awareness and early demand for the BVT system in BC. The trial will evaluate and quantify the efficacy of CR-7, BVT's biological fungicide, in combating fungal diseases in blueberry crops. The results of the trial will be submitted as part of the Company's application for Canadian registration, and will be used as scientific data to market the system to highbush blueberry growers.
"Blueberries are susceptible to a number of common fungal diseases that can wreak havoc on plant health, berry yield and shelf life from farm to plate, including Colletotrichum (anthracnose), Botrytis (gray mold) and Monilinia (mummy berry)," continued Mr. Malik. "The BVT system has been specifically engineered to target these fungal diseases, and we look forward to quantifying both disease control and crop yield improvements through multi-year season trials with the research group and participating growers."
(1) Source: 2016, Agriculture and Agri-Food Canada (AAFC), "What's New in British Columbia - Spotlight in Blueberries
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
Adam Lowensteiner, Investor Relations (for US inquires)
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 of strawberries in Florida, 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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