- Bee Vectoring Technologies International Inc. (BEE) has terminated an equity financing agreement with Alumina Partners Ltd.
- The financing agreement with Alumina Partners Ltd. secured a commitment for up to six million dollars
- Bee Vectoring successfully completed four separate drawdowns from the facility that totalled $1,148,106 during 2020
- BVT is an agriculture technology company with a significant global market opportunity in the $240 billion crop protection and fertilizer market
- Bee Vectoring Technologies International Inc. (BEE) is trading at C$0.25 at 11:00 ET
Bee Vectoring Technologies International Inc. (BEE) has terminated an equity financing agreement with Alumina Partners Ltd.
Pursuant to the agreement, Bee Vectoring successfully completed four separate drawdowns totalling $1,148,106 during 2020.
“Alumina’s investment assisted BVT through the uncertainty created by the COVID-19 pandemic, and we are grateful of Alumina’s partnership during this time,” said Ashish Malik, CEO of Bee Vectoring Technologies.
“Our strong business fundamentals today, in addition to securing over $3.2 million through a private placement earlier this year further strengthened our company’s balance sheet, and as a result, we have decided that now is an appropriate time to conclude this financial arrangement,” added Malik.
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.
Bee Vectoring Technologies International Inc. (BEE) is trading at C$0.25 at 11:00 am ET.
