- MustGrow uses novel plant compounds to develop superior and safer alternatives to current synthetic chemicals used as pesticides, fungicides and nematicides
- The company leverages its innovative technology platform and the natural defensive mechanisms of the mustard plant for broad use in crop production and protection in order to provide consumers the healthy, safe and natural foods they demand
- The company has EPA approval for the granule form of its flagship product, TerraMG, and is currently waiting to receive approval for the liquid form in the United States and Canada
- MustGrow already has multiple projects in various stages of development, with a focus on all-natural and organic solutions for crops
- The liquid form of TerraMG has the potential for multiple applications, thus significantly enhancing the company’s IP position
- MustGrow is focused on the disruption of the global pesticide market, which totals $65 billion, while testing multiple applications of TerraMG and other products in significant markets
- The company has 37 million shares outstanding; management and advisors own 22%
MustGrow Biologics (CSE: MGRO) (OTCQB: MGROF) (FRA: 0C0) is an agricultural biotech company focused on developing and commercializing natural biological solutions for high-value crops, including fruits and vegetables. The company uses novel compounds from the mustard plant to provide superior and safer alternatives to current synthetic chemicals used as pesticides, fungicides and nematicides. Management & advisors own 22% of the company’s 37 million shares outstanding.
Leveraging its innovative platform, MustGrow effectively extracts the natural defense mechanisms of the mustard seed for broad use in crop production and protection. The company uses components of mustard seed to provide high quality, organic pest control to growers facing challenges associated with soil-borne diseases and pests like nematodes. This company’s all-natural, effective, safe and easy-to-use solution is ideal for farmers looking to raise healthy crops without chemical pesticides amid growing concerns worldwide over the negative effects of chemical pesticide solutions.
MustGrow, which went public in 2019, was founded in Saskatoon, Canada, and is currently focused on disrupting the $65 billion global pesticide market with its 100% owned and patented mustard-derived technology. Canada produces 28% of the global mustard crop and is the world’s largest exporter, with a 57% market share.
TerraMG and Pipeline
The company’s technology extracts the mustard plant’s natural organic compounds, which, when combined with water, form Allyl isothiocyanate (AITC) and serve as a natural defense mechanism for the plant against pests and diseases. MustGrow’s mustard-derived technology acts as both a natural bio-pesticide and as a non-selective bio-herbicide.
There are currently more than 110 independent third-party trials that confirm the safety and efficacy of MustGrow’s solutions, potentially positioning the company as a leading provider of safe plant protection solutions in a market that is gradually eliminating the use of chemical compounds.
MustGrow’s primary product at the moment is the new liquid formulation TerraMG, which has the potential to compete against existing chemistries on both efficacy and price. Its initial target market is as a pre-plant soil bio-pesticide for use with higher-value crops such as fruits and vegetables. This liquid formulation is safe and easy to transport and has already demonstrated its efficacy against several pests and diseases.
In addition to its use as a pre-plant soil treatment, TerraMG has significant potential for multiple applications in several other markets, which is expected to aggressively expand the company’s IP portfolio. MustGrow has already confirmed or is in the process of testing multiple applications of TerraMG, including fruit and vegetable soil fumigation ($1.2 billion estimated global market), container fumigation ($2 billion estimated global market), tobacco nematode and disease fumigation ($4 billion estimated global loss), non-selective herbicide ($13 billion estimated global market), food-borne pathogens ($15 billion estimated global market) and more.
The company anticipates registration approval for the liquid formulation (TerraMG) as a pre-plant bio-pesticide for soil-borne diseases and pests from the EPA (United States) and PMRA (Canada) in 2021. The company already has EPA and PMRA approval for the product’s granular form.
Currently, MustGrow’s pipeline also includes:
- TerraMG, a pre-plant soil bio-pesticide, for:
- Fruit & Vegetable– currently in Phase 4
- Turf & Ornamental– currently in Phase 4
- Tobacco– currently in Phase 4
- Potatoes– currently in Phase 4
- Canola– targeting Clubroot Disease – currently in Phase 3: Advanced Development/Field Trials
- Bananas– targeting Fusarium wilt TR4 – currently in Phase 1: Proof of Concept/Laboratory
- Pulse Crops– targeting Aphanomyces – currently in Phase 1: Proof of Concept/Laboratory
- Non-Selective Bio-Herbicide– targeting noxious or resistant weeds – currently in Phase 2: Early Development/Greenhouse
- Storage Bio-Pesticide for Bulk Grain, Fresh Produce– targeting toxins, diseases and insects – currently in Phase 1: Proof of Concept/Laboratory
- Storage Bio-Pesticide for Shipping Containers– targeting fungus, invasive pests and diseases – currently in Phase 1: Proof of Concept/Laboratory
- Bio-Pesticide for Foodborne Pathogens– targeting E. coli, salmonella, Listeria, human pathogens, etc. – currently in Phase 1: Proof of Concept/Laboratory
Market Opportunity
The protection of crops with synthetic chemical pesticides represents a $65 billion-dollar global market that is expected to grow in the coming years as the global population grows and needs more food. This number doesn’t include bio-pesticide sales, which are projected to increase to $8.5 billion by 2025, with a CAGR of 14.7%. MustGrow, with its natural bio-pesticide, is targeting not only the bio-pesticide market, but also the global synthetic chemical market so as to help replace harmful synthetic pesticides and provide a natural biologic that has the efficacy of controlling pests and disease compared to synthetic chemicals in some instances.
Management Team
Corey Giasson is the President, CEO and Director of MustGrow. He is an entrepreneur focused on the agriculture, mining, real estate and oil/gas industries, primarily in the Canadian province of Saskatchewan. Giasson is co-founder and director of Legacy Capital Corp. This private equity company focuses on participating in management buyouts of strong, sustainable cash flowing businesses. He has an MBA and B.Sc. in Agriculture Economics from the University of Saskatchewan.
Colin Bletsky is COO and Director of MustGrow. He grew up in Eastern Saskatchewan on his family’s third-generation farm, growing canola, wheat and oats. The majority of his time is spent helping other organizations and farmers grow their businesses – locally and globally. Bletsky has a Bachelor of Science in Agriculture from the University of Saskatchewan and executive education from the London School of Business and INSEAD.
Todd Lahti is the company’s CFO. He has extensive experience evaluating and managing biotech, agricultural and oil/gas start-up companies by working directly on financing transactions, mergers and acquisitions, business development, corporate strategy, technology transfer and operations setup. Lahti is a Chartered Financial Analyst and a Chartered Professional Accountant.
Brad Munro is Chairman of MustGrow. He is the President and CEO of Bittercreek Capital Corp., a private investment and advisory firm. He has extensive corporate finance and investment experience in the natural gas and oil industries, among others. Munro has a Bachelor of Commerce from the University of Saskatchewan.
NOTE TO INVESTORS: The latest news and updates relating to MGROF are available in the company’s newsroom at https://nnw.fm/MGROF
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