MustGrow to attend annual Strawberry Center Field Day at Cal Poly to promote biofertility product TerraSanteTM to hundreds of strawberry growers, researchers, and farming industry representatives.
MustGrow engages services of 17-year Nutrien sales veteran Michael Atkins to accelerate California sales efforts.
Mustard-derived TerraSanteTM focuses on soil microbiome health, nutrient/water use efficiencies, and plant yields.
Saskatoon, Saskatchewan--(Newsfile Corp. - July 18, 2024) - MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) (FSE: 0C0) (the "Company" or "MustGrow") is pleased to announce participation in Cal Poly Strawberry Field Day. MustGrow will be promoting its mustard-derived organic biofertility product TerraSanteTM at Cal Poly on Thursday, August 8, 2024. Hundreds of strawberry growers, researchers and industry representatives from all over California (and beyond) gather annually for Strawberry Field Day. Strawberries represent a US$2.68 billion annual production business for California growers.(1)
MustGrow's soil amendment and biofertility development programs focus on soil microbiome health, nutrient and water use efficiencies, and plant yields. Soil is a farmer's most valuable asset, and MustGrow's mustard plant-based technologies are being developed with the intention to improve not only the health of the soil, but also the surrounding ecological environment.
As an organic biofertilizer in soluble mixable form, TerraSanteTM contains nutritious plant proteins and carbohydrates that feed the soil and soil microbes, potentially improving beneficial microbial activity and ensuring long-term sustainable soil health. These targeted micro-communities have been shown to work to improve nutrient availability, which can potentially increase plant vigor and yields, while reducing plant stress. TerraSanteTM has the potential to improve crop nutrient uptake and, hence, overall crop performance. There are no artificial additives or preservatives used during its manufacturing.
To complement and accelerate MustGrow's current California sales efforts with BioAg Product Strategies, MustGrow has engaged the services of 17-year Nutrien sales veteran, Michael Atkins, an agronomist with two decades of experience in Coastal California. Atkins holds two Bachelor of Science degrees in Chemistry and Soil Science from California Polytechnic University, San Luis Obispo. At Nutrien, Atkins gave specialized agronomic advice to 60 pest control advisers from Southern California to Mendocino County, conducted small plot research trials on new products, and presented results to Coastal Division Branch Managers and Pest Control Advisors. Additionally, Atkins was responsible for nutrient management, investigation of crop claims, root cause analysis, and loss mitigation strategies.
In May 2024, MustGrow announced receipt of the California Department of Food Agriculture registration approval for its organic biofertility product TerraSanteTM, and also organic certification from California's Organic Input Material (OIM) Program, a specific California requirement beyond MustGrow's existing Organic OMRI Listed? certifications in Oregon and Washington State. MustGrow's California registration and organic certification is a key pillar in the commercialization strategy with BioAg Product Strategies. In addition to California, and recently-awarded Oregon and Washington State, MustGrow expects to continue its efforts towards further state-level registrations in other pertinent U.S. states.
The Market Opportunity in California
In the U.S., over a third of vegetables and nearly three-quarters of fruits and nuts are grown in California. In 2022, the market value of agricultural products sold in California totaled US$59.0 billion, up US$13.8 billion from 2017. Relevant categories for TerraSanteTM include:
Grapes - US$5.54 billion
Almonds - US$3.52 billion
Lettuce - US$3.15 billion
Strawberries - US$2.68 billion
Pistachios - US$1.86 billion
Tomatoes - US$1.46 billion
Carrots - US$1.11 billion
California organic product sales totaled US$14.0 billion in 2021, an increase of 16.4 percent from the prior year. Organic production encompasses over 2.13 million acres in the state.(2) MustGrow believes its TerraSanteTM organic biofertility product will position California farmers to meet increasing demand for organic, local, and healthy produce.
MustGrow is an agriculture biotech company developing organic biocontrol and biofertility products by harnessing the natural defense mechanism and organic materials of the mustard plant to sustainably protect the global food supply and help farmers feed the world. MustGrow and its leading global partners -- Bayer, Janssen PMP (pharmaceutical division of Johnson & Johnson), Sumitomo Corporation, and Univar Solutions' NexusBioAg -- are developing mustard-based organic solutions for applications in biocontrol to potentially replace harmful synthetic chemicals in preplant soil treatment and weed control, to postharvest disease control and food preservation. Bayer has a commercial agreement to develop and commercialize MustGrow's biocontrol soil applications in Europe, Africa, and the Middle East. Concurrently, with new formulations derived from food-grade mustard, the Company is pursuing the adoption and use of its Organic Materials Review Institute (OMRI Listed?) and California's Organic Input Material (OIM) Program registered biofertility product, TerraSanteTM, in key U.S. states including California. Over 150 independent tests have been completed, validating MustGrow's safe and effective approach to crop and food protection and yield enhancements. Pending regulatory approval, MustGrow's patented liquid technologies could be applied through injection, standard drip or spray equipment, improving functionality and performance features. MustGrow has approximately 51.6 million basic common shares issued and outstanding and 54.1 million shares fully diluted. For further details, please visit www.mustgrow.ca.
Contact Information
Corey Giasson Director & CEO Phone: +1-306-668-2652 [email protected]
MustGrow Forward-Looking Statements
Certain statements included in this news 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". Examples of forward-looking statements in this news release include, among others, statements MustGrow makes regarding: the size of the market opportunity in California, the outcome of the Company's promotional activities, whether MustGrow's organic biofertility product will complement the Company's existing biocontrol programs in preplant soil fumigation, postharvest food preservation, and bioherbicide; the application of MustGrow's biofungicide, and the efficacy of MustGrow's technology. 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. Important factors that could cause MustGrow's actual results and financial condition to differ materially from those indicated in the forward-looking statements include market receptivity to investor relations activities as well as those risks described in more detail in MustGrow's Annual Information Form for the year ended December 31, 2023 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available at www.sedarplus.ca. 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 TSXV, nor their Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.
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