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SASKATOON, Saskatchewan, July 08, 2019 (GLOBE NEWSWIRE) -- MustGrow Biologics Corp. (MGRO-CSE) (the "Company", “MustGrow”), an agricultural biotech company developing and commercializing a portfolio of natural biopesticides and biofertilizers, is pleased to announce it has received approval from the Canadian Securities Exchange ("CSE") for the listing of its common shares. The common shares will commence trading on the CSE under the ticker symbol "MGRO" at market open on Wednesday, July 10, 2019.
Full details about the Company are set out in the Company's final prospectus, dated June 20, 2019. A copy of the final prospectus can be found under the Company's profile on SEDAR at www.sedar.com.
MustGrow’s Signature Products
MustGrow’s signature, patented products are derived from mustard seed, utilizing the plant’s natural defense mechanism as a pre-plant soil biopesticide. Organic compounds found within mustard (Brassica) plants, combined with water, form allyl isothiocyanate (AITC), which is the active ingredient in MustGrow’s signature products. The Company feels that the natural AITC chemical has untapped potential to benefit agricultural production – both as a biopesticide/fungicide and biofertilizer – and has yet to be fully explored and commercialized. MustGrow has concentrated the active ingredient in both granular and liquid form to maximize safety and efficacy.
In addition to its signature biopesticides, MustGrow is compiling a science-based suite of biological products – assessing potential product labels from third parties. These products will be natural and/or organic biopesticides and biofertilizers, and MustGrow is working toward in-licensing private labels and/or distributing current third-party product brands to Canadian cannabis licensed producers (LPs) exclusively through MustGrow.
About MustGrow Biologics Corp.
MustGrow is an agricultural biotech company focused on developing and commercializing its patented natural biologic product that acts as a fertilizer, nematicide, pesticide and fungicide. Targeting the fruit, vegetable, turf, ornamentals and cannabis industries, MustGrow has designed a United States EPA-approved organic solution that uses the mustard seed’s natural defence mechanisms to protect plants from pests and diseases. Approximately $9 million has previously been spent on 110 independent tests – validating MustGrow’s remarkably safe and effective granular product.
MustGrow’s granular product is EPA-approved across all key U.S. states as a fertilizer and pesticide (currently limited to fertilizer in California) and is designated by Health Canada’s PMRA (Pest Management Regulatory Agency) as a fruit, vegetable, turf and ornamental fertilizer and pesticide.
In cannabis, MustGrow is currently developing reliable, safe and biological solutions that adhere to Health Canada’s strict regulations. MustGrow is positioning its signature product as an effective pre-plant soil treatment, reducing the chance for any added soil to a greenhouse to bring in pests or diseases. MustGrow expects its pesticide and fertilizer will help licensed cannabis producers control the same conditions addressed in fruit and vegetable crops.
For further details, including MustGrow’s corporate presentation, please visit www.mustgrow.ca.
The Company recently completed a non-brokered private placement (link) to accredited investors, which consisted of common shares at a price of $0.70 per common share for gross proceeds of $1.2 million. The net proceeds of the private placement are being used to accelerate research and development of the Company’s biopesticide and biofertilizer formulations and for working capital and general corporate purposes. Research and development proceeds are being directed toward its patented mustard-derived signature products and its prospective suite of in-licensed natural biologics.
The Company has 25.0 million basic common shares issued and outstanding and 36.9 million on a fully-diluted basis.
To learn more, please contact MustGrow at 1 (306) 668-2652 or visit: www.mustgrow.ca.
ON BEHALF OF THE BOARD
Director & CEO
Certain statements contained herein constitute forward-looking statements. Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Except as required by law, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.