(TheNewswire)
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Mississauga, ON Canada and Sacramento, CA USA – TheNewswire - March 21, 2024 – Bee Vectoring Technologies International Inc. (the “Company” or “BVT”) (CSE:BEE) (OTC:BEVVF) (CVE:BEE) is pleased to announce the Company’s entry into the Texas market with its first customer. The grower, who is based in Hardin County, Texas, will use BVT’s natural precision agriculture system for bumblebees on blueberry and strawberry crops. After deploying the BVT system for the first time last year, the customer has more than tripled his order for this year’s growing season.
BVT is becoming increasingly well-known within the American agriculture industry, with a reputation that’s building quickly through word of mouth. The Texas grower initially heard of BVT from another grower in Florida who is using the Company’s natural precision agriculture system – and is sharing the benefits of the system with growers in his own area.
“This customer isn’t just ordering BVT product for use on his own berry crops, he’s also buying it in bulk for other growers in his area,” said Ian Collinson, Sales Manager at BVT. “This shared order means all of the growers in the collective experienced the disease fighting and yield improving benefits of the BVT system last year and each of them have expanded the use of the product on more acreage on each of their farms.”
The Texas customer’s approach reflects a growing trend across BVT’s US market: they are seeing increasing interest for bulk orders from a single grower that are then shared between a collective of farmers in an area, with one of them becoming an informal distributor for all the others.
Texas grows an estimated 400 acres(1) of strawberries and 700 acres(2) of blueberries. Most large commercial producers in the state for strawberries grow their crop on 7-12 acres, while smaller operations start at 1,000 plants and go up to 3 acres.(3)
“A customer buying on behalf of a collective of farmers is an opportunity for BVT to gain more sales in its addressable US market. It is an efficient way to penetrate into new states and smaller growing regions without substantial growing acreage for berries or the individual buying power to put in a substantial order,” continued Mr. Collinson.
(1)(3) Source: "Texas strawberry season better than recent years," AgriLife Today, April 25, 2023
(2) Source: "Conditions improve for blueberries, blackberries, other fruits," AgriLife Today, May 16, 2023
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 55 granted patents, many more 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.
BVT Company Contact:
Ashish Malik, President & CEO, BVT
BVT Investor Contacts:
Babak Pedram
Virtus Advisory Group
Tel: 416-646-6779
bpedram@virtusadvisory.com
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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