Bee Vectoring Technologies Announces Entry into Peru, the World’s Leading Fresh Blueberry Exporter

Mississauga, Ontario and Sacramento, Calif.–(Newsfile Corp. – Jan. 25, 2022) – Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF) (CVE: BEE) (the “Company” or “BVT”) announced today that the company is expanding into Peru, expanding its presence in an important global blueberry market. The company will also pursue other crops, including avocados. Peru is the bridgehead for BVT’s entry into the South American market.

“We currently sell in the United States and follow the regulatory processes of Switzerland, Europe and Mexico. We are seeing a compelling fit for blueberries, so expanding into Peru is a logical next step,” said BVT CEO Ashish Malik. . “Not only does Peru use bees to pollinate blueberries, but there is a big opportunity in avocados, which will be a new crop for us, of which Peru is the third largest producer.

BVT has begun the development work needed to enter Peru, including testing and regulatory requirements. The first step to entering the Peruvian market is to obtain an Import and Experimental Use Permit, which would allow field trials of BVT’s sole ownership. Clonostachys rosea Microbial strain CR-7 (CR-7), delivered by the Company’s bee delivery system. Once the permit is obtained, the company plans to conduct berry and avocado trials at the start of the next growing season for each crop type. The test data will be used for regulatory submission.

“In line with BVT’s global expansion strategy, we will work with local partners in Peru to accelerate the launch and expansion process in this market,” said Mr. Malik. The Company has engaged a Peru-based agricultural consulting firm to lead regulatory and market development efforts. Further go-to-market partnerships will be forged with local partners as the company progresses through the testing and regulatory stages of establishing its business in Peru.

Peru represents a huge market opportunity for BVT. The country is one of the best-performing economies in Latin America, thanks to its seasonal exports of high-value fresh fruits and vegetables, including blueberries, table grapes, avocados and asparagus. Initially, the Company will focus on field trials of its biofungicide CR-7 on blueberry and avocado crops in the Peruvian market.

Peru is the world’s leading supplier of fresh blueberries,(1) thanks to long growing days, large tracts of cultivable land and access to markets throughout the Americas and Asia. Over the past five years, the country’s blueberry industry has grown by leaps and bounds: in 2016, Peru had 2,300 hectares of blueberries. In 2020, they numbered 13,600 and by the end of 2021, their number was expected to reach 15,000.(2) This global market dominance is set to continue, with blueberries ranking second among the country’s agricultural exports after table grapes. Many North American blueberry growers expand by placing production acreage in Peru.

Peru is the world’s third largest exporter of avocados, with a value of US$760 million and a market share of 11.7% in 2020. Avocado exports have grown by 17% annually over the past five last years. The country is also the third largest producer of avocados in the world, with a global share of 8.6%. It is estimated that 33,000 hectares of avocados are cultivated, of which 27,000 are certified for export. The planted area is expected to increase by 10% in 2024 with new irrigation areas.(3)

“This explosive growth in Peru is something we plan to capitalize on quickly. We already have a reputation in the US for controlling common crop diseases with berries, with strong yield data results noted publicly by US growers. It makes sense to take advantage of more berry markets,” said Ian Collinson, sales director for BVT. “Peru is an ideal candidate for BVT’s expansion because Peruvian growers are early adopters of new technologies and they are increasingly taking advantage of agtech solutions to become more environmentally sustainable, to help reduce residues on the produce they grow, and to help them produce crops for the growing export market to the North America for out-of-season fruits and vegetables. Peruvian producers are also very open to working with new partners to advance these goals.

(1) (2) Source: ProduceBluebook.com, June 18, 2021, “The volume of Peruvian blueberry exports could increase by 30%and FreshPlaza.com, October 20, 2021, “Peru is not. 1st world exporter of blueberries for the third consecutive year
(3) Source: Tridge, November 2021, “Industry Report 2021: Peruvian Avocado“”

On Bee Vectoring Technologies International Inc.

BVT, an agricultural 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 farming system that replaces chemical pesticides and unnecessary spraying of plant protection products by providing organic pesticide alternatives to crops using commercially grown bees. BVT’s award-winning technology, Precision Vectoring, is completely harmless to bees and delivers minute amounts of naturally occurring pesticides (known as biologics) directly to flowers, providing better crop protection and breeding results. performance than traditional chemical pesticides – and improving soil, microbiome and environmental health. Currently, BVT has over 65 issued patents, over 35 patents pending in all major agricultural countries of the world, and has registered with the United States EPA its Vectorite™ with CR-7 (EPA Registration No. 90641 -2) for sale as a registered biological fungicide for use on the crops indicated on the label.

Additional information can be found on the company’s website www.beevt.com. To receive regular updates of Society news, subscribe to www.beevt.com/newsletter.

Company Contact:
Ashish Malik, President and CEO
[email protected]

Investor contacts:

Babak Pedram, Investor Relations
Virtus Advisory Group
Tel: 416-995-8651
[email protected]

The CSE has neither approved nor disapproved of the content of this press release. CSE does not accept responsibility for the adequacy or accuracy of this release. Certain statements contained in this press release constitute “forward-looking information” as that term is defined under applicable Canadian securities laws. The words “may”, “could”, “could”, “should”, “potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions in relation to the Company, “annual earnings potential”, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. These statements reflect the Company’s current views and intentions regarding future events, as well as current information available to the Company, and are subject to certain risks, uncertainties and assumptions, including: acreage planted, the selling price of pesticides competing chemicals and the US to Canadian dollar exchange rate. Important factors or assumptions were applied to provide 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 differ from those described herein, should one or more of these risks or uncertainties materialize. These factors include changes in legislation, competition, litigation, the ability to implement business strategies and pursue business opportunities, the state of capital markets, the availability of funds and resources to continue operations. , new technologies, the ability to protect intellectual property rights, the ability to obtain patent protection for products, claims of intellectual property infringement by third parties, regulatory changes affecting products, faulty research and development activities, ability to achieve and maintain profitability, reliance on business and technical experts, ability to effectively manage business operations and growth, debt issuance, dilution of existing securities, volatility of publicly traded securities stock market, potential conflicts of interest, the improbability of dividend payments the potential costs arising from the defense of third party claims for intellectual property infringement, the ability to secure relationships with manufacturers and buyers, as well as general economic, market and business conditions, as well as the risk factors discussed or referred to in the Company’s filing statement dated August 14, 2020, filed with the CSE and securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. If any factor affects the Company in an unexpected way, or if the assumptions underlying the forward-looking information prove incorrect, the actual results or events could differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Further, the Company assumes no 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 the forward-looking information, except as required by applicable law. All figures are in Canadian dollars.

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