SASKATOON, Saskatchewan, Feb. 03, 2020 (GLOBE NEWSWIRE) -- MustGrow Biologics Corp. MGRO MGROF (the "Company", "MustGrow"), an agricultural biotech company developing and commercializing a portfolio of natural, science-based biological crop protection products, has issued 550,000 common share purchase warrants (each a "Warrant") to certain consultants of the Company. Each Warrant entitles the holder to acquire one common share of the Company at a price of $0.40 for a period of 24 months from the date of issuance. The Warrants were issued pursuant to the terms of consulting agreements entered into by the Company and each of the consultants and each Warrant was issued at a deemed value of $0.05 per Warrant. 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.
About MustGrow
MustGrow is a publicly traded MGRO MGROF agricultural biotech company focused on providing natural science-based biological solutions for high value crops, including fruit & vegetable and cannabis cultivation. MustGrow has designed and owns a United States EPA-approved organic solution that uses the mustard seed's natural defence mechanism to protect plants from pests and diseases. 110 independent tests have been completed, validating MustGrow's safe and effective signature products. This product, in granule format, is EPA-approved across all key U.S. states as a bio-fertilizer and bio-pesticide (currently limited to a bio-fertilizer in California) and is designated by Health Canada's PMRA (Pest Management Regulatory Agency) as a fruit & vegetable bio-pesticide and bio-fertilizer. MustGrow has now concentrated a liquid format to be applied through standard drip or spray equipment, improving function and performance features.
In cannabis, MustGrow is currently developing effective, safe and biological solutions that adhere to Health Canada's strict regulations, including (1) its mustard-derived bio-pesticide to treat soil-borne pests and diseases; and (2) an in-licensed bio-fungicide for powdery mildew.
The Company has approximately 36.2 million basic common shares issued and outstanding. For further details please visit www.mustgrow.ca.
ON BEHALF OF THE BOARD
"Corey Giasson"
Director & CEO
Phone: +1-306-668-2652
Forward-Looking Statements
Certain statements included in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may affect the results, performance or achievements of MustGrow.
Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved".
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of MustGrow to differ materially from those discussed in such forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, MustGrow.
These risks are described in more detail in MustGrow's Prospectus and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities and available at www.sedar.com. Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.
This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Important
Always read and follow label use directions. © 2019 MustGrow Biologics Corp. All rights reserved.
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