(via TheNewswire)
Pursuant to the Share Settlement, the Company has settled
The Company relied on the “Employee, Executive Officer, Director and Consultant”exemption contained in section 2.24 (the “Exemption”) of National Instrument 45-106 - Prospectus Exemptions, to issue an aggregate of 3,766,666 Shares to two of the Creditors. The Canadian Securities Exchange waived the requirement to impose a 4 month and one day hold period on these Shares. The balance of the Shares are subject to a statutory hold period of 4 months plus a day from issuance in accordance with
The debt settlement with the insider of the Company is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 (“MI 61-101”) by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company to be issued to the Insider does not exceed 25% of its market capitalization.
The Company also announces that it will be issuing 4,467,771 Common shares at a price of
Pursuant to applicable Canadian securities laws, the Interest Payment Shares issued pursuant to the Sorbie Private Placement will be issued under prospectus exemptions and are not subject to any hold periods or resale restrictions.
About
BVT, an agriculture technology company, is a market disruptor with a significant global market opportunity in the
Additional information can be viewed at the Company’s websitewww.beevt.com.To receive regular news updates from the Company, subscribe atwww.beevt.com/newsletter.
BVT Company Contact:
info@beevt.com
BVT Investor Contacts:
Tel: 416-995-8651
bpedram@virtusadvisory.com
The CSE has neither approved nor disapproved the contents of this press release. The 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 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, 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
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