Bee Vectoring Technologies International Inc.
TSX VENTURE : BEE
December 04, 2017 08:00 ET
- Yield 77% higher compared to the nontreated control - Number of marketable berries per stem 50% higher than with chemical standard - Reduction in incidence of Monilinia blight (mummy berry) by 21% - Trial conducted using new honey bee dispenser system
- Yield 77% higher compared to the nontreated control
- Number of marketable berries per stem 50% higher than with chemical standard
- Reduction in incidence of Monilinia blight (mummy berry) by 21%
- Trial conducted using new honey bee dispenser system
MISSISSAUGA, ONTARIO--(Marketwired - Dec. 4, 2017) - Bee Vectoring Technologies (the "Company" or "BVT") (TSX VENTURE:BEE) is pleased to announce successful trial results in blueberries.
The trial was conducted near Parrsborough, Nova Scotia, Canada in low bush blueberries with the Wild Blueberry Research Program at Dalhousie University using BVT's newly developed honeybee system, consisting of a honey bee hive with proprietary dispenser technology through which BVT's proprietary plant beneficial microbe BVT-CR7 is delivered to crops using honey bees. The trial was designed to determine the effectiveness of the BVT technology in controlling Botrytis blight (gray mold) and Monilinia blight (mummy berry), two common and devastating diseases affecting blueberry crops across North America, compared to untreated control and current chemicals standards used by growers, as well as increases in productivity of the crop measured by marketable yield.
"Our yields went up quite substantially when we used the BVT system, whether alone or in combination with chemical fungicides, but they didn't go up where we used the fungicide alone," said Dr. David Percival blueberry research program director and professor at Dalhousie University in Nova Scotia. "I was really surprised by the first results. I went back and double checked the raw yield data, then the spreadsheet to make sure the statistical program was correct. The results indicate the potential for floral blight disease control and increased berry yields with the use of BVT technology. Future work will allow us to fine tune the use recommendations."
Ashish Malik, CEO of BVT added, "These are excellent results once again for the company and firmly establishes another major market opportunity. Notably, this was the first time we tested our honey bee delivery system in a replicated R&D study, and we got great results. Having a proven system that works with honey bees alongside our first system designed to work with commercial bumble bee hives allows us to reach a far wider market and gives us options to deliver solutions for growers based on the specific needs for their crops."
Blueberries are a high-value crop, fetching as much as US $18,000 in revenue per acre in certain regions. There are almost 300,000 acres of blueberries cultivated in the US and Canada with total farm gate value of US $ 1.1 billion. Blueberry production in North America represents 54% of the worldwide cultivation of the crop with key growing regions including the Atlantic provinces and British Columbia in Canada, Washington, Oregon, Georgia, Michigan, California, North Carolina, New Jersey, and Florida in the US.
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.
On Behalf of Bee Vectoring Technologies International Inc.,
Ashish Malik, President & CEO
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.
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 the Company 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.