MustGrow Biologics Corp. Announces Closing of $1.2 Million Non-Brokered Private Placement

GlobeNewswire |

SASKATOON, Saskatchewan, (GLOBE NEWSWIRE) -- MustGrow Biologics Corp. (“MustGrow” or the “Company”), a private agricultural biotech company developing and commercializing a portfolio of natural bio-pesticides and bio-fertilizers, is pleased to announce the closing of a non-brokered private placement (the “Offering”).  The Offering consists of 1,712,533 common shares of the Company at price of $0.70 per common share for gross proceeds of $1,198,773.

The net proceeds of the Offering will be used to accelerate research & development of the Company’s bio-pesticide & bio-fertilizer formulations and for working capital and general corporate purposes.  Research & development proceeds will be directed towards its patented mustard-derived signature products and its prospective suite of in-licensed natural biologics.

The common shares issued under the Offering have a hold period expiring four months plus one day following the closing of the Offering.

Post-closing, the Company now has 25.0 million basic common shares issued & outstanding and 36.9 million on a fully-diluted basis.

About MustGrow

MustGrow is an agricultural biotech company focused on developing and commercializing a portfolio of patented natural bio-pesticides and bio-fertilizers, including its patented signature mustard-derived biologics. Targeting the fruit and vegetable and the cannabis industries, MustGrow has designed a US EPA and Canadian PMRA approved organic solution that uses the mustard seed’s natural defense mechanisms to protect plants from pests and diseases.

To learn more, please contact the Company at 1 (306) 717-1128 or visit: www.mustgrow.ca

ON BEHALF OF THE BOARD

"Corey Giasson"

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.

MustGrow Logo.png

Source: MustGrow Biologics Corp.

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