MISSISSAUGA, Ontario, April 25, 2018 (GLOBE NEWSWIRE) -- Bee Vectoring Technologies International Inc. (the “Company” or “BVT”) (TSXV:BEE) is pleased to announce the appointment of Brandon Boddy to the board of directors of BVT.
Brandon contributes 14 years of capital markets experience and directly as a principal. Mr. Boddy is a founding director of both Cannabis Wheaton Income Corp. and Global Blockchain Technologies Corp. From 2006 to 2014, Brandon acted in the capacity of Vice President at Canaccord Financial Inc., as well as Principal and Senior Vice President at Jordan Capital Markets.
“Brandon is a welcome member of the board and brings demonstrated capital market expertise as BVT begins to accelerate its commercialization plans in North America and Europe,” says Michael Collinson, Chairman, “and we are pleased that Brandon has elected to invest personally in the company. His excellent skills in the public markets is a strong addition to the board. We look forward to working with him.”
“I have been following the BVT business for several years and I am excited to join the board of directors. The company has incredible world wide potential with its leadership in a unique crop protection tool,” Brandon Boddy is quoted. “I look forward to contributing my skills in the capital markets. In the past year I have raised over $350 million and my experience and connections can add value to BVT. A healthy treasury and detailed plans with a compelling story, BVT is positioned to succeed and I am thrilled to join the team.”
Mr. Boddy will receive 200,000 options for the board position; each option is exercisable to purchase one common share of the Company for five years at a price of C$0.25 per common share in accordance with the terms of the Company’s stock option plan and subject to TSX Venture Exchange acceptance.
In addition, Brandon will participate in a non-brokered private placement of 500,000 units of the Company at a price of $0.25 per unit for gross proceeds of C$125,000 (the “Offering”).
Each unit will consist of one common share and one common share purchase warrant (“Unit”). Each common share purchase warrant (“Warrant”) will entitle the holder to purchase one additional common share at a price of C$0.35 per common share for a period of 2 years from the date of issue. There will be no finders fees paid pursuant to the Offering.
All securities issued or issuable under the Offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws.
Final closing of this Offering is subject to final acceptance by the TSX Venture Exchange.
About Bee Vectoring Technologies International Inc.
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 eliminate common crop diseases, while at the same time stimulating and enhancing the same crops. 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.
Additional information can be viewed at the Company’s website www.beevt.com
On Behalf of Bee Vectoring Technologies International Inc.,
Michael Collinson
Chairman
For further information, please contact:
Ashish Malik, President & CEO
marketing@beevt.com
Babak Pedram, Investor Relations
Virtus Advisory Group
Tel: 416-644-5081
bpedram@virtusadvisory.com
For media enquiries or interviews, please contact:
Josh Stanbury | josh@sjspr.co.uk | T. 416-628-7441
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 "forward-looking information" that is based on the Company’s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to the Company’s development plans and the closing of the Offering and TSX Venture Exchange approval of the Offering. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. 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.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.