MISSISSAUGA, ONTARIO--(Marketwired - June 23, 2016) - Bee Vectoring Technologies International Inc. (the "Company" or "BVT") (TSX VENTURE:BEE) is pleased to announce that it has received a notice of application approval from the Canadian and Chinese patent and trademark offices for the following pending applications;
Canadian Patent Application No. 2,867,076
Entitled: A FORMULATION COMPRISING A PARTICULATE CALCIUM SILICATE AND CLONOSTACHYS ROSEA FOR TREATING PLANTS
Application relates to a formulation comprising a particulate calcium silicate and can contain Clonostachys rosea for treating plants (Vectorite™). BVT's Vectorite™ is a proprietary mixture of products that allows the inoculant to get attached to a bee's hairy legs and body as it walks through the tray on their way out of the hive. The Vectorite allows for delivery of BVT inoculums (including BVT CR7) either individually or together with other bio-controls and crop controls.
Chinese Patent Application No. 201280028052.9
Entitled: APPARATUS FOR TREATMENT OF PLANTS
Application relates to specialist apparatus for the treatment of plants (inoculum dispenser and tray). The BVT inoculum dispenser system is incorporated into the lid of commercial bumble bee hives. In the dispenser is a removable tray that contains, in powder form, the inoculant crop control and a mixture of products (Vectorite™) that allows the bees to effectively pick up the product on their way out of the hive.
BVT's proprietary inoculant BVT CR7 is comprised of a specific strain of Clonostachys, a naturally occurring, organic fungus which is commonly ingested by humans and is 100% safe for consumption. Once in contact with plants, it acts as an Endophyte and plant protector, blocking highly destructive diseases like Botrytis, Sclerotinia, Rhizupus, Anthracnose, and Alternaria. These are amongst the most costly diseases to control using current incumbent methods which include multiple chemical sprays during a plant's lifecycle. As an example, an acre of strawberries is commonly treated with 300lbs of pesticide during a growth cycle at a cost of approximately $1200.
The BVT system is positioning to become a foundational program for crop inoculation, substantially reducing, and in many cases mitigating fully, the requirement for prolific chemical spraying. It is able to deliver higher crop yields through disease controls and, in the absence of disease, longer shelf life at cost equal, to or lower than, current practices.
In addition, unlike chemicals, which will commonly experience decreases in effectiveness over time due to resistance build up within the pathogens, the unique mode of pathogen control delivered by BVT CR7 means it is not subject to these same issues ensuring it remains a sustainable solution for international growers.
BVT CEO, Michael Collinson said of the latest secured patents, "BVT has assembled an extensive patent portfolio and the continued approval of these patents within key territories such as China and Canada, countries in which we see significant future revenue potential, represents a continual increase in IP equity which is a key asset for the company."
BVT is actively seeking three separate patents in 40 countries around the world relating to its system for biological control of pathogens in crops and delivery system using bees.
About Bee Vectoring Technologies International Inc.
BVT has developed and owns patent-pending bee vectoring technology (consisting of a proprietary tray dispenser containing a unique carrier agent) that is designed to harmlessly utilize commercially reared bumblebees as natural delivery mechanisms for a variety of powdered mixtures comprised of organic compounds that inhibit or eliminate common crop diseases, while at the same time stimulating and enhancing the same crops. This unique and proprietary process facilitates a targeted delivery of crop controls using the simple process of bee pollination to replace traditional crop spraying, resulting in better yield, organic product 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 the Board of Directors of Bee Vectoring Technologies International Inc.,
Michael Collinson, 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.
This press release contains certain "forward-looking statements" that involve known and unknown risks and uncertainties. All statements in this press release, other than statements of historical fact, that address events or developments that BVT expects to occur, are forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements with respect to BVT'S future plans and technologies, including the timing of such plans and technologies. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "indicate" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although BVT believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include continued availability of capital, financing and required resources (such as human resources, equipment and/or other capital resources), and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of BVT'S management on the date the statements are made. BVT undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by law.