MustGrow (CSE: MGRO) (OTCQB: MGROF) (FRA: 0C0), an agriculture biotech company focused on providing natural biological protection for high value crops, today announced its receipt of over C$1.5 million from the exercise of approximately 3.2 million common share purchase warrants at an average weighted exercise price of C$0.48 per share. The company intends to use the proceeds of the warrant exercise to advance its organic mustard plant-based crop protection technologies and for general working capital purposes. “Our shareholders have demonstrated strong support through continued exercise of warrants which further bolsters our cash position to over C$3.1 million,” said MustGrow CEO Corey Giasson. “A portion of the proceeds will be used to accelerate our disruptive pipeline assets, including our ground-breaking field studies in Colombia where we are working to provide a potential solution to combat the banana disease Fusarium wilt TR4.”
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About MustGrow Biologics Corp
MustGrow is a publicly traded agriculture biotech company focused on providing natural science-based biological solutions for high value crops, including fruits and vegetables. MustGrow has designed and owns a United States EPA-approved natural solution that uses the mustard seed’s natural defense mechanism to protect plants from pests and diseases. Over 110 independent tests have been completed, validating MustGrow’s safe and effective signature products. The product, in granule format, is EPA-approved across all key U.S. states and by Health Canada’s PMRA (Pest Management Regulatory Agency) as a bio-pesticide for high value crops such as in fruit and vegetables. MustGrow has now concentrated a liquid format, TerraMG, which, with regulatory approval, could be applied through standard drip or spray equipment, improving functionality and performance features. The company has approximately 37 million basic common shares issued and outstanding. For further details, please visit www.MustGrow.ca.
NOTE TO INVESTORS: The latest news and updates relating to MGROF are available in the company’s newsroom at https://ibn.fm/MGROF
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