US: Bee Vectoring Technologies to terminate equity financing agreement with Alumina Partners

Bee Vectoring Technologies International has mutually terminated the definitive agreement with Alumina Partners that secured a commitment for up to $6,000,000 CDN in a financing 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.”