Agricultural biotech company MustGrow Biologics today announced the closing of a non-brokered private placement. According to the update, the offering consists of 1,712,533 of MustGrow common shares, each at a $0.70 price per common share, for gross proceeds of $1,198,773. The company intends to use the net proceeds to accelerate research and development of its bio-pesticide and bio-fertilizer formulations, as well as for working capital and general corporate purposes. MustGrow plans to direct research and development proceeds toward its patented mustard-derived signature products and its prospective suite of in-licensed natural biologics.
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About MustGrow Biologics Corp.
MustGrow Biologics is an agricultural biotech company that develops and commercializes patented technology that is a natural biopesticide and biofertilizer for use as a fertilizer, nematicide, pesticide and fungicide. MustGrow’s novel and proprietary solutions utilize organic components refined from mustard seed to provide high-quality, organic pest control to growers facing challenges associated with soil-borne diseases and pests such as nematodes. The company’s technology provides an all-natural, effective, safe and easy-to-use solution for farmers seeking to raise healthy crops without the use of pesticides. For more information, visit the company’s website at www.MustGrow.ca.
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