MISSISSAUGA, Ontario, March 14, 2018 (GLOBE NEWSWIRE) -- Bee Vectoring Technologies International Inc. (the “Company” or “BVT”) (TSXV:BEE) announces the appointment, on a contractual basis, of Dr. Gerardo Suazo, Ph.D., M.B.A. to the position of Senior Technical Manager.
Mexico is a market where about $250M of chemical fungicides are being used today, and where growers are already actively modifying their production practices to meet standards demanding higher levels of food safety and quality with less chemical inputs. Offering a motivated and highly-scalable market, it will be the next, after the United States, that BVT will target in which to develop its technology. Dr. Suazo will be responsible for overseeing and managing trials in Mexico and will play a key role in driving the BVT technology adoption within the country.
Dr. Suazo brings 15 years of industry relevant experience in the US and Mexico to the Company. His work experience spans research, product and project management and includes 8 years working with Syngenta. He holds a Ph.D. in Horticulture from Cornell University, an M.B.A. in Marketing and Entrepreneurship from the Kenan-Flagler Business School at the University of North Carolina - Chapel Hill, an M.S. in International Horticulture from Essex University in the UK, and a B.S. in Horticultural Engineering from Universidad Autonoma del Estado de Morelos in Mexico. Dr. Suazo is based in Queretaro, Mexico and will be responsible for developing the BVT system for the Mexican market, and in assisting with the commercialization efforts in the US.
“The BVT system is highly innovative, and the discussions I had with growers in Mexico before taking the role have confirmed that there is a very good opportunity for this technology across many crops in Mexico,” said Dr. Suazo. “I am very excited to be part of the team now and feel that my experience and connections will help accelerate development of the business in Mexico and the US.”
Ashish Malik, CEO of BVT added, “Gerardo is very strong technically, but what we are most excited about is that he is very hands-on and has a very good business sense that relates very well to growers. He has a record of accomplishment of commercializing innovative tools for growers and being bi-lingual makes him a perfect fit to help build our business in both Mexico and the US.”
Mexico is experiencing a production increase of several crops for export and domestic consumption (i.e. avocados, berries, vegetables). BVT has the potential to address the vegetable and fresh fruit production markets (for example, 22,500 acres of strawberries, 8,000 acres of blueberries and over 300,000 acres of tomatoes & peppers).
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.,
President & CEO
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 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.
Source: Bee Vectoring Technologies International Inc.