TSXV: MGRO | OTCQB: MGROF | FRA: 0C0

Bayer Commercial Partnership

WHAT:

  • Exclusive Commercial License Agreement for preplant biopesticde (TerraMG™) and bioherbicide
  • Region: Europe, Middle East and Africa
  • ROFR on global bananas

WHY:

  • Current chemicals under significant pressure from governments and consumers across the region
  • Organic acres continue to grow across the region (ie: EU’s 25% organic production ambition by 2030)
  • Multiple countries limiting new chemical registrations, multiple green deals

COMMITMENT:

  • MustGrow estimates Bayer will spend US$35-40 million to commercialize TerraMGTM, which includes:
    • Upfront and potential milestone payments to MustGrow
    • The estimated costs for development & registration work
  • MustGrow to receive once registered:
    • Royalty
    • Cost+ on supply of extract

NEXT STEPS:

  • Registration activities in multiple countries
  • Additional development work on new formulations
  • Goal of first registration in next 3-7 years
  • Continued testing in multiple countries in the region