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MustGrow Obtains Exclusive Rights of Streptomyces Bio-Fungicide Product Used to Treat Powdery Mildew in Cannabis Production
- Exclusive Canadian rights of bio-fungicide product for cannabis and hemp cultivation.
- Primary focus on powdery mildew suppression with a Streptomyces based product, previously used in the cannabis and hemp industries.
- MustGrow to have exclusive Canadian access to the science-based and environmentally sustainable biological product.
SASKATOON, Saskatchewan (September 3, 2019) – MustGrow Biologics Corp. (MGRO-CSE) (“MustGrow” or the “Company”), an agricultural biotech company developing and commercializing a portfolio of natural biopesticides and biofertilizers for the cannabis industry, is pleased to announce a Supply and Private Label Agreement (the “Agreement”) for the exclusive Canadian distribution of a streptomyces based biological product in Canada.
Under the definitive binding Agreement, MustGrow will brand, market and distribute the product in Canada with the possibility to expand to markets beyond Canada. Streptomyces is the active ingredient in a previously available product which was once used by Canadian cannabis licensed cultivators for suppression of powdery mildew. Although not currently approved for use on cannabis, the product will be re-registered under a MustGrow private label trademark.
“We look forward to enabling cannabis growers to help minimize disease challenges in their production systems,” said MustGrow COO Colin Bletsky. “This streptomyces based product was once used by many cannabis producers to help with powdery mildew, and we are excited to bring back the active ingredient in a different product form for the cannabis industry.”
Streptomyces products are biological fungicides that suppresses a broad range of both soil and foliar ornamental diseases. Active microbes within Streptomyces have multiple modes of action and application in various forms production systems, aiding in crop protection from the following harmful pests such as: Alternaria, Botrytis, Downy Mildew, Phytomatotricum, Phytophthora, Powdery Mildew, Sclerotinia, Fusarium, Pythium, Rhizoctonia, and Verticillium.
About Powdery Mildew (source: http://www.agr.gc.ca)
Powdery mildew is a widespread fungal disease affecting both vegetative and woody plants. Following the initial infection, spores are continuously produced and spread which further infect other plant leaves in warm & humid conditions. Powdery mildew appears as white or grey dusty patches on leaf surfaces, making plants appear unsightly. Cannabis plants infected with powdery mildew do NOT meet the stringent Health Canada requirements for cannabis sale and consumption.
A number of “chemical” fungicides are available for powdery mildew control outside of cannabis, including those containing sulphur, myclobutanil, chlorothalonil, tryfloxystrobin or thiophanate-methyl, but Health Canada deems these “chemical” products unsafe for cannabis cultivation and are strictly prohibited.
MustGrow’s Signature Products
MustGrow’s signature, patented products are derived from mustard seed, utilizing the plant’s natural defense mechanism as a pre-plant soil biopesticide. Organic compounds found within mustard (Brassica) plants, combined with water, form allyl isothiocyanate (AITC), which is the active ingredient in MustGrow’s signature products. The Company feels that the natural AITC chemical has untapped potential to benefit agricultural production – both as a biopesticide/fungicide and biofertilizer – and has yet to be fully explored and commercialized. MustGrow has concentrated the active ingredient in both granular and liquid form to maximize safety and efficacy.
In addition to its signature biopesticides, MustGrow is compiling a science-based suite of biological products, assessing potential product labels from third parties. These products will be natural and/or organic biopesticides and biofertilizers, and MustGrow is working toward in-licensing private labels and/or distributing current third-party product brands to Canadian cannabis licensed producers (LPs) exclusively through MustGrow.
The first third-party product that MustGrow has brought in under this strategy is Triangle Plant Science’s TP-1000. MustGrow has exclusive distribution of TP-1000 in Canada and key registered cannabis markets globally. TP-1000 provides improved nutrient utilization in support of earlier growth and optimal flowering for plants, including cannabis. Third-party indoor trials have demonstrated excellent performance in hydroponic cannabis applications, with significant increases in yield, terpene and THC levels. MustGrow looks forward to testing this product with Canadian licensed cannabis producers and being the sole distributor to them.
MustGrow is an agricultural biotech company focused on developing and commercializing its patented natural biologic product that acts as a pesticide, fungicide nematicide and fertilizer. Targeting the fruit, vegetable, turf, ornamentals and cannabis industries, MustGrow has designed a United States EPA-approved organic solution that uses the mustard seed’s natural defence mechanisms to protect plants from pests and diseases. Approximately $9 million has previously been spent and 110 independent tests completed, validating MustGrow’s remarkably safe and effective granular product.
MustGrow’s granular product is EPA-approved across all key U.S. states as a fertilizer and pesticide (currently limited to fertilizer in California) and is designated by Health Canada’s PMRA (Pest Management Regulatory Agency) as a fruit, vegetable, turf and ornamental biopesticide and biofertilizer.
In cannabis, MustGrow is currently developing reliable, safe and biological solutions that adhere to Health Canada’s strict regulations. MustGrow is positioning its signature product as an effective pre-plant soil treatment, reducing the chance for any added soil introduced to a greenhouse to bring in pests or diseases. MustGrow expects its biopesticide and biofertilizer will help licensed cannabis producers control the same conditions addressed in fruit and vegetable crops.
The Company has 25.0 million basic common shares issued and outstanding and 36.9 million on a fully-diluted basis. For further details, including MustGrow’s corporate presentation, please visit www.mustgrow.ca.
ON BEHALF OF THE BOARD
Director & CEO
Phone: 306 668-2652
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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.
These risks are described in more detail in MustGrow’s Prospectus and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities and 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.
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