Research News and Market Data on MGROF
- MustGrow has received the California Department of Food Agriculture approval to commence sales of TerraSanteTM, an organic biofertility product, in California.
- Additionally, MustGrow has received organic certification from California’s Organic Input Material (OIM) Program.
- Mustard-derived TerraSanteTM focuses on soil microbiome health, nutrient/water use efficiencies, and plant yields.
SASKATOON, Saskatchewan, Canada, May 8, 2024 – MustGrow Biologics Corp. (TSXV:MGRO) (OTC:MGROF) (FRA:0C0) (the “Company” or “MustGrow”) is pleased to announce receipt of the California Department of Food Agriculture registration approval for its mustard plant-based TerraSanteTM, an organic biofertility product. MustGrow’s TerraSanteTM has also received 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.
TerraSanteTM product sales are now authorized to commence in California. The registration and certification are an important step in MustGrow’s commercialization strategy with BioAg Product Strategies to develop and commercialize MustGrow’s soil amendment and biofertility technologies, including TerraSanteTM. 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.
BioAg Product Strategies owner, Tim Lichatowich, remarked, “There has been tremendous buzz surrounding TerraSanteTM since recent state registrations were awarded. TerraSanteTM has a lot of the characteristics in a product that producers are looking for, making it an exciting advancement for organic, sustainable, and regenerative agriculture in California.”
MustGrow’s TerraSanteTM product complements the Company’s existing biocontrol programs in preplant soil fumigation, postharvest food preservation, and bioherbicide, which are currently under development with four global partners: Bayer, Sumitomo Corporation, Janssen PMP, and NexusBioAg.
The Market Opportunity in California
Over a third of U.S. vegetables and nearly three-quarters of U.S. fruits and nuts are grown in California. In 2022, the market value of agricultural products sold in California totaled $59.0 billion USD, up $13.8 billion USD from 2017. Relevant categories for TerraSanteTM include:
- Grapes — $5.54 billion
- Almonds — $3.52 billion
- Lettuce — $3.15 billion
- Strawberries — $2.68 billion
- Pistachios — $1.86 billion
- Tomatoes — $1.46 billion
- Carrots — $1.11 billion
(all USD)(1)
California organic product sales totaled $14.0 billion USD 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.
TerraSanteTM for Soil and Ecological Health
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 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 learn more about TerraSanteTM, visit www.mustgrow.ca.
Sources:
(1)https://www.cdfa.ca.gov/Statistics/#:~:text=Over%20a%20third%20of%20the,the%202022%20crop%20year%20are%3A&text=Dairy%20Products%2C%20Milk%20—%20%2410.40%20billion,Cattle%20and%20Calves%20—%20%243.63%20billion
(2)https://www.cdfa.ca.gov/Statistics/PDFs/2022_Organics_Publication.pdf
About MustGrow
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 first registered biofertility and OMRI Listed® product, TerraSanteTM, in key U.S. states. 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
info@mustgrow.ca
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 commencement of TerraSanteTM product sales in California; the progress of state-level registrations of TerraSanteTM products in other pertinent U.S. states; whether the TerraSanteTM product will position California farmers to meet increasing demand for organic, local, and healthy produce; whether MustGrow’s organic biofertility product will complement the Company’s existing biocontrol programs in preplant soil fumigation, postharvest food preservation, and bioherbicide; and whether targeted micro-communities can increase plant vigor and yields, while reducing plant stress; and the potential for TerraSanteTM to improve crop nutrient uptake and, hence, overall crop performance. 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.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 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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