On September 4, 2024, MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) (FSE: 0C0) based in Saskatoon, Saskatchewan, announced that its board of directors has approved the allocation of 1,575,398 deferred share units (DSUs) and restricted share units (RSUs) to specific directors, officers, and consultants of the Company. These units were granted on September 3, 2024, in accordance with the Company’s Omnibus Equity Incentive Plan (the Plan).
The DSUs will become vested once the holder is no longer serving as a director, officer, or employee of the Company or any of its affiliates. Upon settlement, each DSU will entitle the holder to receive one common share in the Company’s capital or a cash equivalent at the Company’s discretion.
MustGrow is an agricultural biotechnology company focused on developing organic biocontrol and biofertility products utilizing the natural defense mechanisms and organic materials found in mustard plants. These products aim to protect the global food supply sustainably and support farmers in feeding the world. MustGrow’s strategic partners include Bayer, Janssen PMP (pharmaceutical division of Johnson & Johnson), Sumitomo Corporation, and Univar Solutions’ NexusBioAg.
The Company is working on mustard-based organic solutions for various agricultural applications, such as biocontrol for preplant soil treatment and weed control, as well as postharvest disease control and food preservation. Bayer has a commercial agreement to develop and market MustGrow’s biocontrol soil applications in Europe, Africa, and the Middle East.
Furthermore, MustGrow is seeking approval for its biofertility product, TerraSante, in key U.S. states like California. The Company’s patented liquid technologies offer safe and effective crop protection and yield enhancement strategies. MustGrow currently has approximately 51.6 million basic common shares issued and outstanding, with 55.7 million shares fully diluted.
For more information, visit MustGrow’s website at www.mustgrow.ca. Please note that this press release is not an offer to sell securities, and it does not solicit offers to buy securities in the United States. The TSXV, along with their Regulation Services Provider, and the OTC Markets have not endorsed or approved the contents of this release.
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