Bee Vectoring Technologies Adds Southeast US Territory Manager: First Target Florida
Mississauga, ON – July 25, 2018 –– Bee Vectoring Technologies (“BVT”) (TSXV: BEE) announced today that it has hired Everett Hendrixon as Territory Manager to drive its sales efforts in Florida and the southeastern U.S.
Hendrixon, with a background in agri-business administration and consulting, comes to BVT with a passion for the industry and a firm belief that the science of using natural pest control agents as organic solutions leads to better farms and better food. Based in the Tampa area, Hendrixon is very well connected within the Florida strawberry growing community and will lead BVT’s commercialization efforts and help berry growers implement the BVT system into their operations.
“I have spoken to several growers who have trialed the BVT System and confirmed their intent to use it again in the coming season,” said Everett. “It is a simple and elegant solution to crop production with grower’s interest at its core. It lowers costs and increases revenues without adding complication to the grower’s regime – few processes can live up to what BVT does. I am excited to be part of the BVT team as this innovative technology enters commercialization.”
Hendrixon will initially focus on the winter strawberry market in Florida which produces around 20 million flats of strawberries on 11,000 acres every year. Additionally, he will support the blueberry market across the Mid-Atlantic and Southeastern states in the U.S. Blueberries are susceptible to various diseases including monilinia (or mummy berry) and botrytis, both of which can be managed by BVT’s system. An estimated 23,000 bee hives are already being used to pollinate the crop, making blueberries an excellent target opportunity for the system. The company estimates the total annual revenue potential in berry crops in the Eastern US to be between CAD $15 – $20 million. The company is also targeting field and tree crops such as sunflowers and almonds as well as greenhouse crops such as tomatoes and will continue to investigate other crop varieties for both bee delivered and foliar versions of its proprietary beneficial microbe BVT CR-7, as well as using its bee delivery systems for delivery of other agriculturally relevant products developed internally or through partnerships.
“Everett’s connections within the Florida strawberry grower community and beyond are very important to BVT since we have a significant opportunity in several crops up and down the Atlantic seaboard,” said Ashish Malik, CEO of BVT. “In addition to possessing strong customer relationship skills and a passion for sustainable farming practices, Everett has the solid technical skills that will be needed to grow our business. We are excited to have him join our team.”
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 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.
Additional information can be viewed at the Company’s website www.beevt.com
For further information, please contact:
Ashish Malik, President & CEO
Babak Pedram, Investor Relations
Virtus Advisory Group
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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 of strawberries in Florida, 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 May 29, 2015, filed with the 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 Inspira 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.