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 TODAYat 4:15 pm ET to discuss recently-announced parternships with Bayer and Sumitomo Corporation and upcoming catalysts.
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
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
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
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.
