MISSISSAUGA, ONTARIO–(Marketwired – July 26, 2017) – Bee Vectoring Technologies (the “Company” or “BVT”) (TSX VENTURE:BEE) is pleased to announce it has received official organic certification in the US, and its proprietary formulation of Vectorite™ with BVT-CR7 is now listed by the Organic Materials Review Institute (OMRI).
The listing means the product meets the US Department of Agriculture’s (USDA) guidelines under the National Organic Program standard and is allowed for use in certified organic crops. The overall regulatory approval process for BVT-CR7 with the US Environmental Protection Agency (EPA) remains on track and a decision by the EPA on the approval for BVT-CR7 is expected in the first half of 2018.
“The US organic food industry is valued at close to $43 billion, and continues to grow around 10% per year,” stated Ashish Malik, CEO of BVT. “Organic growers however have a limited choice of products they can use to increase the productivity of their crops. The BVT system has been shown to have a unique value proposition for organic farmers, and delivers considerable value in multiple crops through better disease control and higher yields. With this certification, organic farmers will be able to begin adopting the solution once we gain final regulatory approval from the US EPA. This represents a significant business opportunity for BVT in an area of the industry experiencing growing consumer demand and where there are limited solutions available for protecting crops and increasing yields.”
The Company is continuing to successfully execute on its documented growth strategy while driving towards commercialization of its proprietary system. BVT is selectively expanding its market opportunities while continuing towards securing US Environmental Protection Agency (EPA) regulatory approval of its BVT-CR7 beneficial microbe.
BVT has developed and owns patent-pending bee vectoring technology that is designed to harmlessly utilize bumblebees and honeybees as natural delivery mechanisms for a variety of powdered mixtures comprised of organic compounds that inhibit or control common crop diseases, while at the same time enhancing crop vigor and productivity. This unique and proprietary process enables a targeted delivery of crop controls using the simple process of bee pollination to replace traditional crop spraying, resulting in better yields, superior quality, and less impact on the environment without the use of water or disruptions to labour.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain “forward-looking statements” that involve known and unknown risks and uncertainties. All statements in this press release, other than statements of historical fact, that address events or developments that BVT expects to occur, are forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements with respect to BVT’S future plans and technologies, including the timing of such plans and technologies. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “indicate” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although BVT believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include continued availability of capital, financing and required resources (such as human resources, equipment and/or other capital resources), and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of BVT’S management on the date the statements are made. BVT undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change, except as required by law.
President & CEO
Virtus Advisory Group
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