Bee Vectoring Technologies Closes Private Placement

About this update from Bee Vectoring Technologies International, Inc.

[{"type":"text","content":"Bee Vectoring Technologies Closes Private PlacementMississauga, Ontario and Sacramento, California--(Newsfile Corp. - May 15, 2023) - Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF) (CVE: BEE) (the \"Company\" or \"BVT\") is pleased to announce it has closed the previously announced non-brokered private placement of 2,250,000 units (the \"Units\") issued at a price of $0.12 per Unit for gross aggregate proceeds of $270,000 (the \"Private Placement\"). Each Unit is comprised of one common share (each a \"Share\") and one common share purchase warrant (each a \"Warrant\"). Each Warrant is exercisable to acquire one additional Share of the Company for a period of 36 months from closing at a price of $0.20.No finder's fees were payable in connection with the Private Placement. The Company intends to use the gross proceeds from the Private Placement to fund its ongoing growth strategy in the agricultural space, for continued research and development, marketing services and general working capital purposes.All securities issued pursuant to the Private Placement are subject to a statutory hold period which will expire on September 13, 2023 in accordance with applicable securities laws of Canada.The Company has also issued 771,014 Shares at a price of $0.08625 per Share (the \"Settlement Shares\"), to settle a semi-annual interest payment due to Sorbie Bornholm LP pursuant to the issuance of 1,900 notes for gross proceeds of $1,900,000 from the private placement that closed on July 11, 2022 (the \"Sorbie Private Placement\").Pursuant to applicable Canadian securities laws, the Settlement Shares issued pursuant to the Sorbie Private Placement have been issued under prospectus exemptions and are not subject to any hold periods or resale restrictions.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 ...

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