- Regulatory approval received in Canada.
- Bio-fungicide product for powdery mildew suppression treatment on cannabis and hemp.
- Product is licensed exclusively from leading multinational biological company.
MustGrow Biologics Corp. (CSE: MGRO) (OTCQX: MGROF) (FSE: 0C0) (the "Company", "MustGrow") is pleased to announce receipt of regulatory approval for a powdery mildew bio-fungicide product for use on cannabis and hemp crops (the "Product") through Canada's Pest Management Regulatory Agency (PMRA).
MustGrow has licensed the Product exclusively from a leading multinational biological and microbial company, through a definitive licensing agreement initially announced September 3, 2019. The Product is a natural biological product (not mustard-derived) that aids cannabis and hemp producers with powdery mildew suppression. MustGrow is now able to sell the Product in Canada with the exclusive option to expand internationally. The Product is registered under the MustGrow trademark CannaPMTM as a foliar spray. Although this registration approval presents an immediate revenue opportunity, MustGrow's core focus remains on developing its signature mustard-derived biopesticide and bioherbicide technologies to control diseases, pests, and weeds.
Powdery Mildew is a widespread fungal disease affecting many plants, including cannabis and hemp. Following the initial infection, spores are continuously produced and spread which further infect other plant leaves in warm & humid conditions. Powdery mildew infections appear as white or grey dusty patches on leaf surfaces, eliminating the plants' commercial value. A number of "chemical" fungicides are available for powdery mildew control outside of cannabis and hemp, including those containing sulphur, myclobutanil, chlorothalonil, tryfloxystrobin or thiophanate-methyl, but Health Canada's PMRA deems these "chemical" products unsafe for cannabis and hemp cultivation and are strictly prohibited.
Streptomyces, the active ingredient in the Product, is a biological fungicide/bactericide that suppresses a broad range of soil and foliar ornamental diseases. Active microbes within Streptomyces aid in crop protection from the following harmful diseases: Alternaria, Botrytis, Downy Mildew, Phytomatotricum, Phytophthora, Powdery Mildew, Sclerotinia, Fusarium, Pythium, Rhizoctonia, and Verticillium.
MustGrow is a publicly traded (CSE: MGRO) (OTCQX: MGROF) (FSE: 0C0) agriculture biotech company focused on providing natural science-based biological solutions for high value crops, including fruits & vegetables and other industries. MustGrow has designed and owns a U.S. EPA-approved natural solution that uses the mustard seed's natural defence 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 biopesticide for high value crops such as in fruit & vegetables. MustGrow has now concentrated a mustard extract in liquid format, TerraMG, and with regulatory approval, could be applied through standard drip or spray equipment, improving functionality and performance features. In addition, this mustard-derived technology could have other applications in several different industries from pre-plant soil treatment to post harvest disease control and food preservation.
The Company has approximately 42.0 million basic common shares issued and outstanding and 50.6 million shares fully diluted. For further details please visit www.mustgrow.ca.
ON BEHALF OF THE BOARD
Director & CEO
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.
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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.
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