0
Home
News
Directory
E-newsletter
Magazine
Events
Data
AgReport
Subscribe
Bee Vectoring Technologies announces mutual termination of equity financing agreement with Alumina Partners Ltd.
Aug. 24, 2021
Follow
CanadaBee Vectoring Technologies International Inc. (the “Company” or “BVT”) (CSE: BEE) (OTCQB: BEVVF) (CVE:BEE) announced that it has mutually terminated the definitive agreement (the “Agreement“) with Alumina Partners (Ontario) Ltd. (“Alumina“) that secured a commitment for up to $6,000,000 CDN (Six Million Dollars) in a financing facility (the “Facility“).
Pursuant to the Agreement, the Company successfully completed four separate draw downs from the Facility that totaled $1,148,106 during 2020.
“Alumina’s investment assisted BVT through the uncertainty created by the COVID-19 pandemic, and we are grateful of the Alumina’s partnership during this time,” said Ashish Malik, CEO of Bee Vectoring Technologies. “Our strong business fundamentals today, in addition to securing over $3.2 million through a private placement earlier this year further strengthened our Company’s balance sheet, and as a result, we have decided that now is an appropriate time to conclude this financial arrangement.”
More from AgroNews
Change
Hot TopicSubscribe
| Subscribe Email: | * | |
| Name: | ||
| Mobile Number: | ||
Comment
0/1200
NEWSLETTER