Wednesday, February 12, 2025
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
New Distribution. Yesterday, MustGrow announced the signing of a five-year exclusive distribution agreement with Adjuvants Plus Inc., in which MustGrow will distribute Adjuvants’ product line across Canada through NexusBioAg. In addition, MustGrow has a First Right of Refusal for the distribution of Adjuvants’ product line in the U.S. market.
Complementing Products. Four key products are being introduced by Adjuvants in the agreement, with a particular focus on EndoFine and EndoGuard. Adjuvants’ patented Clonostachys rosea, a fungus that provides plant health and protection benefits, is in both products, offering an abundance of advantages for various crops in North America, such as corn, soybeans, pulses, canola, and fruits and vegetables. In our view, products such as EndoFine and EndoGuard complement MustGrow’s product line, as both lines target similar crops while offering health and protection benefits.
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