Announcement • May 26
MustGrow Biologics Corp. announced that it expects to receive CAD 2 million in funding MustGrow Biologics Corp. announced a non-brokered private placement to issue 4,000,000 units at an issue price of CAD 0.50 per unit for gross proceeds of CAD 2,000,000 on May 25, 2026. Each unit will consist of: one common share and one common share purchase warrant. Each warrant will be exercisable for a period of 60 months from the closing date and will entitle the holder thereof to purchase one additional common share at an exercise price of CAD 0.70 per warrant share. It is expected that closing of the LIFE offering will take place on or about June 11, 2026, or such other dates as may be determined the company. Closing of the LIFE offering is subject to certain conditions, including, but not limited to, receipt of all necessary approvals, including the approval of the TSX-V. As consideration for services, certain eligible finders may receive aggregate cash fees equal up to 6% of the gross proceeds of the LIFE offering from investors introduced to the company by the finders; and non-transferable common share purchase warrants representing up to 6.0 per cent of the aggregate number of units sold to investors introduced to the company by the finders. Each finder's warrant will entitle its holder to purchase one common share at a price of CAD 0.70 cents per finder's warrant share for a 60-month period. The finders' warrants and any finders' warrant shares issuable upon exercise thereof will be subject to a statutory hold period expiring four months and one day following the date of issue in accordance with applicable Canada securities laws. Subject to the rules and policies of the TSX Venture Exchange, the securities issuable from the sale of units to Canadian resident subscribers will not be subject to a hold period under applicable Canadian securities laws. Insiders and certain consultants that participate in the LIFE offering would be subject to a four-month hold period pursuant to applicable policies of the TSX-V. Announcement • Apr 28
MustGrow Biologics Corp., Annual General Meeting, Jun 25, 2026 MustGrow Biologics Corp., Annual General Meeting, Jun 25, 2026. New Risk • Jan 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 22% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$4.4m net loss next year). Shareholders have been diluted in the past year (22% increase in shares outstanding). Market cap is less than US$100m (CA$52.2m market cap, or US$38.4m). Announcement • Jan 24
MustGrow Biologics Corp. announced that it has received CAD 2 million in funding On January 23, 2026. MustGrow Biologics Corp. announces that it has closed the transaction. It has issued 4,000,000 units at a price of 0.50 per unit for gross proceeds of CAD 2,000,000. As consideration for services, certain eligible finders received an aggregate cash fee equal to CAD 105,000, being 6.0% of the gross proceeds of the LIFE Offering from investors introduced to the Company by such finders and 210,000 non-transferable common share purchase warrants. Announcement • Jan 09
MustGrow Biologics Corp. announced that it expects to receive CAD 2 million in funding MustGrow Biologics Corp announced a non brokered private placement to issue 4,000,000 units at a price of CAD 0.5 per unit for aggregate gross proceeds of CAD 2,000,000 on January 8, 2026. Each Unit will consist of one common share of the Company and one common share purchase warrant. Each whole Warrant will be exercisable for a period of 60 months from the Closing Date and will entitle the holder thereof to purchase one additional Share at an exercise price of CAD 0.70 per Warrant Share. Insiders and certain consultants who participate in the LIFE Offering would be subject to a four-month hold period pursuant to applicable policies of the TSXV. The transaction is expected to close on January 22, 2026. The Units sold pursuant to the LIFE Offering will be offered in Canada pursuant to the listed issuer financing exemption from the prospectus requirement available under Part 5A of National Instrument 45-106 - Prospectus Exemptions. As consideration for services, certain eligible finders may receive an aggregate cash fee equal up to 6.0% of the gross proceeds of the LIFE Offering from investors introduced to the Company by the finder; and non-transferable common share purchase warrants representing up to 6.0% of the aggregate number of Shares forming part of the Units issued to investors introduced to the Company by the finder. Each Finder's Warrant will entitle its holder to purchase one Share at a price of CAD 0.70 per Share for a 60-month period. The Finder Warrants and any Finder Warrant Shares issuable upon exercise thereof will be subject to a statutory hold period expiring four months and one day following the date of issue in accordance with applicable Canada securities laws. It is anticipated that insiders of the Company may participate in the LIFE Offering, and any Units issued to insiders will be subject to a four-month hold period pursuant to applicable policies of the TSXV. The issuance of Units to any insiders will be considered a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions("MI 61-101"). Reported Earnings • Nov 27
Third quarter 2025 earnings released Third quarter 2025 results: Net income: (up CA$1.68m from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 43% per year, which means it is significantly lagging earnings. New Risk • Nov 26
New major risk - Revenue and earnings growth Earnings have declined by 1.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CA$190k). Earnings have declined by 1.4% per year over the past 5 years. Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$4.2m net loss next year). Market cap is less than US$100m (CA$34.7m market cap, or US$24.7m). Announcement • Aug 29
MustGrow Biologics Corp. announced that it has received CAD 2.141812 million in funding On August 29, 2025, MustGrow Biologics Corp closed the transaction. The company issued 3,059,731 units at a price of CAD 0.7 er unit for aggregate gross proceeds of CAD 2,141,811.7. The company paid to certain eligible finders, an aggregate cash fee equal to CAD 86,332.60, being 6% of the gross proceeds from the offering from investors introduced to the Company by such finders and 123,318 non-transferable common share purchase warrants representing 6% of the aggregate number of Shares forming part of the Units issued to investors introduced to the Company by the finders. Each Finder's Warrant will entitle its holder to purchase one share at a price of CAD 0.9 per share for a period of 60 months. The Finder Warrants and any Finder Warrant Shares issuable upon exercise thereof will be subject to a statutory hold period expiring four months and one day following the date of issue in accordance with applicable Canada securities laws. New Risk • Aug 28
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$190k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CA$190k). Earnings have declined by 2.5% per year over the past 5 years. Minor Risk Market cap is less than US$100m (CA$39.8m market cap, or US$28.9m). Announcement • Jul 31
MustGrow Biologics Corp. announced that it expects to receive CAD 3.000001 million in funding MustGrow Biologics Corp announced a non-brokered private placement to issue o 4,285,715 units of the Company at a price of CAD 0.7 per unit for aggregate gross proceeds of CAD 3,000,000.5 on July 30, 2025. Each Unit will consist of one Common share of the company and one common share purchase warrant. Each whole Warrant will be exercisable for a period of 60 months from the Closing Date and will entitle the holder thereof to purchase one additional Share at an exercise price of CAD 0.9 per Warrant Share. Insiders and certain consultants that participate in the LIFE Offering would be subject to a four-month hold period pursuant to applicable policies of the TSXV. The transaction is expected to close on or about August 21, 2025. As consideration for services, certain eligible finders may receive an aggregate cash fee equal up to 6.0% of the gross proceeds of the LIFE Offering from investors introduced to the Company by the finder; and non-transferable common share purchase warrants representing up to 6.0% of the aggregate number of Shares forming part of the Units issued to investors introduced to the Company by the finder. Each Finder's Warrant will entitle its holder to purchase one Share at a price of CAD 0.9 per Share for a 60-month period. The Finder Warrants and any Finder Warrant Shares issuable upon exercise thereof will be subject to a statutory hold period expiring four months and one day following the date of issue in accordance with applicable Canada securities laws. New Risk • May 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$6.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$6.2m free cash flow). Earnings have declined by 1.4% per year over the past 5 years. Minor Risks Revenue is less than US$5m (CA$4.2m revenue, or US$3.0m). Market cap is less than US$100m (CA$49.3m market cap, or US$35.7m). Recent Insider Transactions Derivative • May 09
COO & Director exercised options to buy CA$221k worth of stock. On the 1st of May, Colin Bletsky exercised options to buy 203k shares at a strike price of around CA$0.34, costing a total of CA$69k. This transaction amounted to 12% of their direct individual holding at the time of the trade. Since June 2024, Colin's direct individual holding has increased from 1.76m shares to 1.96m. Company insiders have collectively bought CA$496k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Apr 29
MustGrow Biologics Corp., Annual General Meeting, Jun 26, 2025 MustGrow Biologics Corp., Annual General Meeting, Jun 26, 2025. Reported Earnings • Apr 25
Full year 2024 earnings: EPS in line with analyst expectations despite revenue beat Full year 2024 results: CA$0.095 loss per share (further deteriorated from CA$0.014 loss in FY 2023). Net loss: CA$4.89m (loss widened CA$4.21m from FY 2023). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Announcement • Jan 17
MustGrow Biologics Corp. announced that it has received CAD 2.585 million in funding On January 16, 2025, MustGrow Biologics Corp closed the transaction. The company issued 2,585 units at a price of CAD 1,000 per unit for the gross proceeds of CAD 2,585,000. In connection with the Private Placement, certain finders received an aggregate cash fee of CAD 67,200. Announcement • Jan 02
MustGrow Biologics Corp. (TSXV:MGRO) completed the acquisition of NexusBioAg from Univar Solutions Canada Ltd. MustGrow Biologics Corp. (TSXV:MGRO) signed a non-binding term-sheet to acquire NexusBioAg from Univar Solutions Canada Ltd on November 27, 2024. MustGrow Biologics Corp. (TSXV:MGRO) signed an agreement to acquire NexusBioAg from Univar Solutions Canada Ltd on December 31, 2024. MustGrow Biologics Corp. will pay deferred cash payment and contingent payments to be paid in 2025 and 2026, in each case subject to certain adjustments to be agreed to in the definitive transaction documents. The parties are targeting a closing on or about December 31, 2024.
The transaction is subject to approval by TSX Venture Exchange, approval of offer by MustGrow Biologics board of directors, consummation of due diligence investigation and definitive agreement.
MustGrow Biologics Corp. (TSXV:MGRO) completed the acquisition of NexusBioAg from Univar Solutions Canada Ltd on January 2, 2025. The consideration includes (i) a deferred cash payment of approximately $1.662 million subject to adjustment in accordance with the terms of the APA; and (ii) earn-out payments equal to a specified percentage amount of gross margin on certain itemized products sold by MGRO in 2025 and 2026.The TSX Venture
Exchange has conditionally approved the acquisition, subject to customary post-closing requirements. Announcement • Dec 12
MustGrow Biologics Corp. announced that it expects to receive CAD 2 million in funding MustGrow Biologics Corp. announced a non-brokered private placement of 2,000 units at a price of CAD 1,000 per unit for the gross proceeds of CAD 2,000,000 on December 11, 2024. Each unit will be comprised of: (i) CAD 1,000 principal amount of unsecured convertible debentures (the "debentures"); and (ii) 666 common share purchase warrants. Each debenture may, at the option of the holder: (i) be converted into common shares in the capital of the company (the "common shares") at price of CAD 1.50 per common share at any time; or (ii) paid in cash 60 months following the closing date (subject to certain acceleration and automatic conversion rights). Each warrant will be exercisable by the holder thereof to acquire one common share at a price of CAD 1.90 per common share for a period of 60 months following the closing date. The debentures will accrue interest at a rate of 8% per annum. Accrued interest shall be payable semi-annually in cash. The Debentures, the Warrants and any underlying Common Shares will be subject to a four month hold period from the Closing Date. The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSXV. The transaction is expected to close on January 10, 2025. Announcement • Sep 12
Mustgrow Biologics Corp. Receives Florida Registration for TerraSante Biofertility Product MustGrow Biologics Corp. announced receipt of the Florida Department of Agriculture and Consumer Services registration approval for its mustard plant-based TerraSanteTM, an organic biofertility product. The Florida organic certification is included under MustGrow's existing Organic OMRI Listed®? certifications in Arizona, Idaho, Oregon, and Washington State. MustGrow's Florida registration and organic certification is a key pillar in the commercialization strategy with BioAg Product Strategies. In addition to Florida, and recently-awarded Arizona, Idaho, California, Oregon, and Washington State, MustGrow expects to continue its efforts towards further state-level registrations in other pertinent U.S. states. In 2022, Florida ranked first in the U.S. in the production value of bell peppers (USD 262 million), floriculture (USD 1.16 billion), foliage plants for indoor use (USD 481 million), Valencia oranges (USD 289 million), grapefruit (USD 706 million), sugarcane (USD 752 million), fresh market tomatoes (USD 323 million) and watermelons (USD 216 million). TerraSanteTM for Soil and Ecological Health. MustGrow's soil amendment and biofertility development programs focus on soil and soil microbiome health, nutrient and water use efficiencies, and plant yields. Soil is a farmer's most valuable asset, and MustGrow's mustard plant-based technologies are being developed with the intention to improve not only the health of the soil, but also the surrounding ecological environment. As an organic biofertilizer in soluble mixable form, TerraSanteTM contains nutritious plant proteins and carbohydrates that feed the soil and soil microbes, potentially improving beneficial microbial activity and ensuring long-term sustainable soil health. These targeted micro-communities have been shown to work to improve nutrient availability, which can potentially increase plant vigor and yields, while reducing plant stress. TerraSanteTM has the potential to improve crop nutrient uptake and, hence, overall crop performance. There are no artificial additives or preservatives used during its manufacturing. Announcement • May 09
Mustgrow Biologics Corp. Receives California Department of Food Agriculture Registration Approval MustGrow Biologics Corp. announced receipt of the California Department of Food Agriculture registration approval for its mustard plant-based TerraSante, an organic biofertility product. MustGrow's TerraSante has also received organic certification from California's Organic Input Material (OIM) Program, a specific California requirement beyond MustGrow's existing Organic OMRI Listed® certifications in Oregon and Washington State. TerraSante product sales are now authorized to commence in California. The registration and certification are an important step in MustGrow's commercialization strategy with BioAg Product Strategies to develop and commercialize MustGrow's soil amendment and biofertility technologies, including TerraSante. In addition to California, and recently-awarded Oregon and Washington State, MustGrow expects to continue its efforts towards further state-level registrations in other pertinent U.S. states. MustGrow's TerraSante product complements the Company's existing biocontrol programs in preplant soil fumigation, postharvest food preservation, and bioherbicide, which are currently under development with four global partners: Bayer, Sumitomo Corporation, Janssen PMP, and NexusBioAg. MustGrow's soil amendment and biofertility development programs focus on soil microbiome health, nutrient and water use efficiencies, and plant yields. Soil is a farmer's most valuable asset, and MustGrow's mustard plant-based technologies are being developed with the intention to improve not only the health of the soil, but also the surrounding ecological environment. As an organic biofertilizer in soluble mixable form, TerraSante contains nutritious plant proteins and carbohydrates that feed soil microbes, potentially improving beneficial microbial activity and ensuring long-term sustainable soil health. These targeted micro-communities have been shown to work to improve nutrient availability, which can potentially increase plant vigor and yields, while reducing plant stress. TerraSante has the potential to improve crop nutrient uptake and, hence, overall crop performance. There are no artificial additives or preservatives used during its manufacturing. Reported Earnings • Apr 24
Full year 2023 earnings released: CA$0.014 loss per share (vs CA$0.11 loss in FY 2022) Full year 2023 results: CA$0.014 loss per share (improved from CA$0.11 loss in FY 2022). Revenue: CA$4.71m (up CA$4.71m from FY 2022). Net loss: CA$676.9k (loss narrowed 88% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. New Risk • Jan 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.9m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 30% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (3.6% increase in shares outstanding). Market cap is less than US$100m (CA$71.5m market cap, or US$53.5m). Board Change • Jan 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Director Laura Westby was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions Derivative • Dec 22
President exercised options to buy CA$385k worth of stock. On the 15th of December, Corey Giasson exercised options to buy 307k shares at a strike price of around CA$0.25, costing a total of CA$77k. This transaction amounted to 36% of their direct individual holding at the time of the trade. Since June 2023, Corey has owned 852.63k shares directly. Company insiders have collectively bought CA$347k more than they sold, via options and on-market transactions, in the last 12 months. New Risk • Dec 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.9m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 30% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$70.1m market cap, or US$51.7m). New Risk • Oct 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 30% per year over the past 5 years. Revenue is less than US$1m (CA$1.3k revenue, or US$954). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (CA$46.1m market cap, or US$33.6m). Reported Earnings • Sep 01
First half 2023 earnings released: CA$0.045 loss per share (vs CA$0.05 loss in 1H 2022) First half 2023 results: CA$0.045 loss per share (improved from CA$0.05 loss in 1H 2022). Net loss: CA$2.25m (loss narrowed 7.5% from 1H 2022). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 58% per year, which means it is well ahead of earnings. Announcement • Jun 15
MustGrow Biologics Corp. Completes Initial Commercial Production Run Via Contract Manufacturer MustGrow Biologics Corp. announce the successful initial commercial run-rate production of its mustard plant-based biocontrol liquid via a contract manufacturer. MustGrow believes this production milestone further validates the Company's commercialization strategy to initially utilize a third party contract manufacturer rather than construct its own capital-intensive pilot and/or commercial production facilities. The continuous production run-rate of the extract reached greater than the equivalent of 5,000 litres per day of MustGrow's mustard plant-based biocontrol liquid technology,which is estimated to equal approximately USD 25 million in annual grower level revenue. The production process created zero residual waste by generating a high protein byproduct ingredient for animal feed. Recent Insider Transactions • Dec 10
Independent Director recently sold CA$101k worth of stock On the 7th of December, Brian Quigley sold around 30k shares on-market at roughly CA$3.36 per share. This transaction amounted to 7.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • May 10
MustGrow Biologics Corp., Annual General Meeting, Jun 29, 2022 MustGrow Biologics Corp., Annual General Meeting, Jun 29, 2022. Breakeven Date Change • Apr 27
Forecast to breakeven in 2023 The analyst covering MustGrow Biologics expects the company to break even for the first time. New forecast suggests the company will make a profit of CA$1.22m in 2023. Average annual earnings growth of 59% is required to achieve expected profit on schedule. Announcement • Feb 10
Mustgrow Biologics Corp. Reports Successful Postharvest Applications in Stored Potatoes MustGrow Biologics Corp. announced successful postharvest trials in both disease control and sprout suppression of stored potatoes conducted by a third-party independent laboratory. MustGrow's organic mustard plant-based technology outperformed leading synthetic chemical standards for treatment of stored potatoes for both Fusarium dry rot disease and sprouting. No combination solutions currently exist that treat both disease and sprouting making MustGrow's application unique in addressing both postharvest issues in potatoes simultaneously. MustGrow's postharvest development program may now transition to Sumitomo Corporation across the Americas and Bayer across Europe, Asia Pacific, Middle East and Africa . Further testing and trials are required to evaluate commercial potential. Additional postharvest applications may also be trialed, including disease control in large shipping containers. MustGrow had previously announced separate collaboration agreements with Sumitomo Corporation and Bayer to evaluate the efficacy and commercial potential of MustGrow's technology. MustGrow's mustard-derived technology was trialed versus hydrogen peroxide, a leading synthetic chemistry standard, to measure control of Fusarium dry rot . MustGrow's technology outperformed the chemical standard at multiple rates with statistical significance. Disease control was measured after the 5-week interval, highlighting the effectiveness of MustGrow's technology at killing not only the Fusarium dry rot itself, but also the disease's ability to reform and replicate. MustGrow's mustard-derived technology outperformed the chemical standard in sprout suppression, chlorpropham, at multiple rates with statistical significance after the 5-week period. Additionally, sprouts still remained absent at the conclusion of the trial, highlighting the MustGrow. Announcement • Sep 15
MustGrow Biologics Corp. announced that it expects to receive CAD 2.002 million in funding MustGrow Biologics Corp. announced a non-brokered private placement of approximately 770,000 units at a price of CAD 2.60 per unit for gross proceeds of CAD 2,002,000 on September 13, 2021. Each unit consist of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one common share of the company at a price of CAD 4 for a period of 24 months following the closing of the transaction. The transaction is expected to close on or about September 28, 2021. All securities issued in the transaction are subject to a hold period of four months and one day. The transaction is subject to all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange. Announcement • Jul 14
MustGrow Biologics Corp. Announces Positive Carnation Trials with Gowan Group MustGrow Biologics Corp. announced positive results from its non-exclusive floriculture trials in Colombia with Gowan Group. Gowan trialed MustGrow's patented mustard-derived biopesticide on Fusarium oxysporum f. sp. Dianthi ("Fusarium"). MustGrow's treatment outperformed both the grower standard of steam sterilization and the untreated check, controlling Fusarium in soil used to grow carnation flowers at economic application rates. MustGrow and Gowan are now conducting additional work to further evaluate the application potential of MustGrow's biopesticide product in Colombian floriculture markets. MustGrow's remarkably safe and effective organic biopesticide is plant-based harnessing the mustard seed's natural defense mechanism to control diseases, insect pests and weeds. The Carnation Trials were conducted in soil and vegetal material from two leading carnation growers in the most important producing region in Cundinamarca, Colombia, through Gowan's biological division Ecoflora Agro. MustGrow's mustard-derived liquid biopesticide, TerraMG, was assessed pre- and post-treatment versus Steam Sterilized Soil to evaluate efficacy in the control of Fusarium on carnation plants through bioassay. Carnation damage caused by Fusarium was also evaluated in the plants and roots via the following parameters: Growth Parameters: Foliage state, root extension in the soil, plant and root size; Disease Presence: Fusarium and other pathogens, foliage and stem affectation scale, root damage, Fusarium symptoms scale. Announcement • Mar 04
MustGrow Isolates and Concentrates a Mustard-Derived Molecule that Acts as a Systemic, Non-Selective Bioherbicide MustGrow Biologics Corp. announced that it has isolated and concentrated an additional molecule, thiocyanate, from mustard seed. Thiocyanate, which is responsible for the systemic activity behind the mustard plant's natural herbicidal (weed-killer) properties, is the third molecule from mustard seed that MustGrow has isolated, extracted, and concentrated. MustGrow had previously reported herbicidal proof-of-concept success without isolating thiocyanate and now expects to build on those studies with this additional herbicidal mode-of-action now identified. Announcement • Feb 26
MustGrow Receives Registration Approval for Powdery Mildew Bio-Fungicide MustGrow Biologics Corp. announce receipt of regulatory approval for a powdery mildew bio-fungicide product for use on cannabis and hemp crops(the "Product") through Canada's Pest Management Regulatory Agency (PMRA). MustGrow has licensed the Product exclusively from a leading multinational biological and microbial company, through a definitive licensing agreement initially announced September 3, 2019. The Product is a natural biological product (not mustard-derived) that aids cannabis and hemp producers with powdery mildew suppression. MustGrow is now able to sell the Product in Canada with the exclusive option to expand internationally. The Product is registered under the MustGrow trademark CannaPMTM as a foliar spray. Although this registration approval presents an immediate revenue opportunity, MustGrow's core focus remains on developing its signature mustard-derived biopesticide and bioherbicide technologies to control diseases, pests, and weeds. Powdery Mildew is a widespread fungal disease affecting many plants, including cannabis and hemp. Following the initial infection, spores are continuously produced and spread which further infect other plant leaves in warm & humid conditions. Powdery mildew infections appear as white or grey dusty patches on leaf surfaces, eliminating the plants' commercial value. A number of "chemical" fungicides are available for powdery mildew control outside of cannabis and hemp, including those containing sulphur, myclobutanil, chlorothalonil, tryfloxystrobin or thiophanate-methyl, but Health Canada's PMRA deems these "chemical" products unsafe for cannabis and hemp cultivation and are strictly prohibited. Streptomyces, the active ingredient in the Product, is a biological fungicide/bactericide that suppresses a broad range of soil and foliar ornamental diseases. Active microbes within Streptomyces aid in crop protection from the following harmful diseases: Alternaria, Botrytis, Downy Mildew, Phytomatotricum, Phytophthora, Powdery Mildew, Sclerotinia, Fusarium, Pythium, Rhizoctonia, and Verticillium. Announcement • Feb 10
MustGrow Biologics Corp. Reports 100% Control of Banana Disease at Economic Rates MustGrow Biologics Corp. announced further laboratory results of its mustard-derived natural biopesticide on the disease Fusarium wilt TR4 ("Fusarium wilt TR4"). Fusarium wilt TR4 is a devastating pathogen ravaging the $25 billion global banana industry. Testing and reporting in this second Colombia study was completed by a different third party independent laboratory than was used in the first study to add further validation. MustGrow's safe and effective natural biopesticide is plant-based harnessing the mustard seed's natural defense mechanism to control diseases, pests, and weeds. Fusarium wilt TR4 samples were treated with MustGrow's mustard-based liquid biopesticide at various low-rate applications which demonstrated 100% control, and also potential economical proficiency if extrapolated to a plantation field scenario. 100% control was achieved at economic rates as low as 5 gal/acre (49 L/ha) within a 3 day testing period. In comparison, control samples (without MustGrow's product) showed Fusarium wilt TR4 was still vibrant and growing. These results further strengthen MustGrow's body of work in Colombia as preparation accelerates for its highly-anticipated field studies. Announcement • Jan 22
MustGrow Biologics Corp. Achieves 100% Control of Root-Rot Disease Infecting Key Plant-Based Protein Crops MustGrow Biologics Corp. announced successful laboratory test results of its patented mustard-derived biopesticide on Aphanomyces euteiches zoospores ("Aphanomyces") via an independent third party facility: 100% control at economic application rates within 24 hours. MustGrow will now advance to larger scale greenhouse and field tests. Study results and applicability are patent-protected under MustGrow's existing suite of issued patents. MustGrow's remarkably safe and effective organic biopesticide is plant-based harnessing the mustard seed's natural defense mechanism to control diseases, pests, and weeds with an organic food-grade biopesticide. Aphanomyces is a water mould pathogen responsible for root-rot disease, infecting a variety of peas, lentils and other legumes collectively referred to as pulse crops. The disease causes severe root damage and wilting, with yield losses ranging from 10% to 100% in infected fields. Canada is one of the world's largest producers (9.2 million tons; 2019) and exporters of pulse crops. Industry experts conservatively estimate $20 million in annual pulse crop losses in Canada and $100 million globally caused by Aphanomyces. Current treatment measures cannot control Aphanomyces they are only able to slow down the spread and reduce the incidence and severity of the disease. MustGrow feels it makes both logical and ecological sense to protect plant-based protein crops with plant-based crop protection inputs. MustGrow's product is a pre-plant soil treatment, meaning application to the soil occurs before crops are planted. Application of MustGrow's biopesticide returns organic plant material to the soil through this pre-plant treatment process as a potential alternative to using synthetic chemicals. According to MarketsandMarkets and analysis by EY-Parthenon, the global plant-based protein market size is projected to grow from $12 billion in 2019 to $28 billion by 2025 (CAGR of 15%). This is attributed to several drivers, predominantly rising consumer health-consciousness, growing prevalence of protein-rich pulse crop food products, and technological innovations in plant-based protein extraction. To accommodate the rise of plant-based protein demand, Fior Markets estimates the global pulse crops market will grow from $16.2 billion in 2017 to $24.3 billion by 2025 (CAGR of 5.2%). The interest in MustGrow's plant-based biopesticide is increasing as farmers, consumers and investors seek `natural biological' alternatives to synthetic chemical pesticides. Adverse global climate and weather events are expected to negatively impact food supply for a growing human population. Warmer temperatures are expected to increase pest infestations and with more pests there will be more damage to crops. The development of safe and effective biopesticides will be critical for future food security and environmentally sustainable agriculture. Is New 90 Day High Low • Dec 31
New 90-day high: CA$1.25 The company is up 213% from its price of CA$0.40 on 01 October 2020. The Canadian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is down 7.0% over the same period. Recent Insider Transactions Derivative • Dec 27
COO & Director exercised options to buy CA$222k worth of stock. On the 24th of December, Colin Bletsky exercised options to buy 190.00k shares at a strike price of around CA$0.50, costing a total of CA$95k. This transaction amounted to 16% of their direct individual holding at the time of the trade. Since June 2020, Colin's direct individual holding has decreased from 1.43m shares to 1.21m. Company insiders have collectively bought CA$115k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Dec 25
COO & Director recently sold CA$86k worth of stock On the 22nd of December, Colin Bletsky sold around 82k shares on-market at roughly CA$1.05 per share. This was the largest sale by an insider in the last 3 months. Colin has been a seller over the last 12 months, reducing personal holdings by CA$73k. Announcement • Dec 16
Mustgrow Biologics Corp. Appoints David M. Borecky to Its Board of Directors MustGrow Biologics Corp. announced the appointment of Mr. David M. Borecky, Vice President and Chief Accounting Officer of Impossible Foods to its Board of Directors. David will leverage his extensive global relationships in the plant-based innovation community to accelerate and raise awareness of MustGrow’s remarkably safe and effective plant-based crop protection technologies. Is New 90 Day High Low • Dec 05
New 90-day high: CA$0.81 The company is up 113% from its price of CA$0.38 on 04 September 2020. The Canadian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 29% over the same period. Is New 90 Day High Low • Nov 20
New 90-day high: CA$0.48 The company is up 10.0% from its price of CA$0.44 on 21 August 2020. The Canadian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Biotechs industry, which is up 19% over the same period. Recent Insider Transactions • Nov 04
President recently bought CA$74k worth of stock On the 28th of October, Corey Giasson bought around 194k shares on-market at roughly CA$0.38 per share. This was the largest purchase by an insider in the last 3 months. This was Corey's only on-market trade for the last 12 months. Announcement • Oct 04
MustGrow Biologics Corp. Commences Banana Panama Disease Testing in Colombia MustGrow Biologics Corp. announced the commencement of testing of MustGrow's proprietary TerraMG bio-pesticide formulation on the Panama Disease (Fusarium wilt TR4), a devastating disease pathogen ravaging the $25 billion global banana industry. The company's TerraMG bio-pesticide has been proven to control soil-borne diseases similar to Panama Disease. The laboratory testing in Colombia will focus on the treatment of the Panama Disease. The company’s previous independent efficacy studies in Canada have proven that TerraMG's treatment of Fusarium oxysporum, a soil-borne pathogen, had 100% control of the fungus. Panama Disease is among the most destructive banana diseases, affecting particularly Cavendish bananas, which are half of all bananas produced globally. Currently, there are no effective treatments for the infected banana plantations, with the disease remaining viable for decades in the soil and can cause 100% yield loss. The company has already been working towards its US-EPA and Canadian-PMRA registrations of TerraMG for pre-plant treatment of soil-borne pests and diseases in high value crops such as fruits & vegetables. Now, the company is replicating this strategy in Colombia's besieged banana industry - focused on controlling and eliminating the Panama Disease. This work will build on the company’s existing field data and serve as a benchmark for achieving registration labels in Colombia and other leading South American agricultural countries. The company anticipates laboratory results in fourth quarter of 2020. Announcement • Sep 18
MustGrow Biologics Corp. Announces the Appointment Barry Palte to Its Global Advisor MustGrow Biologics Corp. announced the appointment Barry Palte to its advisory team. Barry will leverage his extensive global relationships in sustainable and innovative ag-tech to support the global rollout of MustGrow's remarkably safe and effective mustard-derived crop protection products. Barry is a global investment markets expert with a passion for impact investing in disruptive companies and projects which have a major impact on the health of people and the planet. All of his investment projects contribute explicitly to these goals. He has hands on experience working with a broad spectrum of deep tech disruptive technology companies around the world. Barry served as Global Chairman of the International Association of Investment Bankers (recently renamed Orion International Advisors - a global network of investment banks with member firms in the US, UK, Ireland, France, Italy, Japan, India, Brazil, China and Australia. His career spans 35+ years in company and board management, funds management, investment and investment banking, the last 21 years as the founder and owner of his own globally focused investment group EQ Capital Partners. His prior corporate /institutional roles included serving as the head of Strategy and M&A for the funds management business of Commonwealth Bank (Australia's largest bank) in both Australia and Asia. 