MustGrow Advances its Mustard Plant-Based Technology Pipeline

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02 March2022, Canada: MustGrow Biologics Corp., is pleased to provide an update of its organic mustard plant-derived crop protection technology pipeline.  MustGrow has harnessed the mustard seed’s natural defense mechanism for treatment of diseases, pests, and weeds.

REMINDER:  MustGrow is hosting a live investor webcast TODAY at 4:15 pm ET to discuss recently-announced parternships with Bayer and Sumitomo Corporation and upcoming catalysts.  

MustGrow’s Crop Protection and Food Preservation Programs:

PRODUCTTARGETPARTNERMARKETSTAGE
Preplant Soil BiopesticideSoil-borne diseases & pests
All Crops – Fruits & Veg, Potatoes, Broad Acre, Turf & Ornamentals, etc.Fusarium, Botrytis, Verticillium, Rhizoctonia, Pythium, Phytophthora, Sclerotinia, Nematodes, etc.Sumitomo Corporation (Americas – excluding turf & ornamentals)Bayer (RoW – excluding turf & ornamentals)US$1.3B est global market in Fruit & VegU.S. EPA registration in process for multiple crops
Bananas Fusarium wilt TR4Sumitomo Corporation (Americas)US$18B est global loss Advanced / Field
CanolaClubroot (Plasmodiophora brassicae)NexusBioAg (Univar)C$500M est economic loss in Canada Advanced / Field
Pulse CropsAphanomycesNexusBioAg (Univar)C$100M est economic loss in Canada Advanced / Field
BioherbicideWeedsSumitomo Corporation (Americas)Bayer (RoW)US$35B est global market Development / Field
Storage: Potato, Fruit & Vegetable*Sprouting, diseases & pestsSumitomo Corporation (Americas – potatoes and bananas only)Bayer (RoW – potatoes only)US$250M est global marketDevelopment / Storage Facilities
Storage: Bulk Grain*Mycotoxin & insectsTBDUS$15B est global lossProof-of-Concept
Storage: Shipping Containers*Diseases & pestsTBDUS$2B est global market Proof-of-Concept
Food-Borne Pathogens*E.coli, Salmonella, Listeria, StaphylococcusTBDUS$15B est global marketProof-of-Concept

Table Source: Globenewire, 3rd Party Ag Market Research, MustGrow estimates.

*Literature shows AITC has application in these areas.

Recent Program Advancements:

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Successful Postharvest Applications in Stored Potatoes

Feb. 9, 2022 Link

MustGrow reported successful postharvest results in both Fusarium dry rot disease control and sprout suppression, outperforming leading synthetic chemical standards.  No combination treatment products currently exist that address both disease and sprouting.

Exhibit 1: Quartered potatoes photographed after 5 weeks.  Dark patches represent Fusarium dry rot.

Exhibit 2: Potato sprouts photographed after 5 weeks

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Bayer Exclusive Agreement in Europe, Asia Pacific, Middle East and Africa

Jan. 21, 2022 Link

Exclusive agreement with Bayer to evaluate MustGrow’s technologies to determine commercial potential for preplant soil fumigation, bioherbicide applications and postharvest food preservation of potatoes including sprout inhibition.  Bayer is funding and driving all laboratory, field development, regulatory work and market development.

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Sumitomo Corporation Program Expansion and Successful US Field Trials

Dec. 14, 2021 Link

Successful US field trials were reported in cotton, soybeans and cucurbits, with MustGrow’s technology showing efficacy comparable to synthetic chemical standards.  Sumitomo Corporation has expanded the  program development into Mexico, Peru and Chile, with a joint regulatory strategy being implemented across the Americas.

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Successful Banana Field Trials in Colombia with Transition to Sumitomo Corporation

Nov 10, 2021 Link

Field data confirmed reduced incidence and severity of Fusarium wilt TR4 symptoms in banana plants with no damage or phytotoxic effects on banana plants.  The Colombia banana program has transitioned, with Sumitomo Corporation now driving development and regulatory work necessary for commercialization.

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Warrant Issuance

Separately, MustGrow has issued 100,000 common share purchase warrants (each a “Warrant”) to an advisor for continued work on MustGrow’s technology in Colombia.  Each Warrant shall entitle the holder to acquire one common share of the Company at a price per common share to be determined according to CSE pricing policy exercisable for a period of 24 months from the date of issuance.  All Warrants and underlying shares are subject to a four month hold period from the date of issuance.  The issuance of the Warrants is subject to the final approval of the CSE.

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