MustGrow Appoints Seasoned International Agriculture Professional to Board
SASKATOON, Saskatchewan, Canada, Mar. 15, 2022 – MustGrow Biologics Corp. (CSE: MGRO) (OTC: MGROF) (FRA: 0C0) (the “Company“, “MustGrow“) is pleased to announce the appointment of Ms. Laura Westby, Senior Vice President – Legal and Intellectual Property at Invaio Sciences to its Board of Directors. Ms. Westby will leverage her extensive business and legal experience in international agriculture, specifically around commercial arrangements, strategy and intellectual property.
Ms. Westby joined Invaio in 2019 as Senior Vice President. In April, Ms. Westby will join Oerth Bio as Chief Legal Officer and Chief Operating Officer. Prior to joining Invaio, she was General Counsel for two technology start-ups: Momenta Partners AG and Close Cross Ltd. Her passion is agriculture, having spent 15 years at Syngenta in various roles in the US and Switzerland, culminating in the global position of Associate General Counsel – Crop Protection. Ms. Westby holds a BA in Classics, Psychology and Political Science from Gustavus Adolphus College and a Juris Doctorate from Mitchell-Hamline School of Law in Minnesota.
“I am beyond excited to join the MustGrow Board and look forward to leveraging past experience to help direct new areas of collaboration and growth,” remarked Ms. Westby. “I believe that natural technologies such as MustGrow’s will be critical for the sustainable food supply of the future and I am motivated to see this technology developed and commercialized globally.”
“With the importance globally in sustainably securing a safe and reliable food supply, having Ms. Westby join our team with her broad experience in the global agricultural industry is key to the advancements of our organization,” remarked MustGrow Chairman Brad Munro. “A director of Ms. Westby’s calibre is an exciting addition to the MustGrow team, particularly her business expertise in global agriculture corporate M&A transactions and around intellectual property.”
In connection with this appointment, MustGrow will be issuing 250,000 common share options (each an “Option”) of the Company. Each Option shall be exercisable for one common share of the Company at a price per common share to be determined according to CSE pricing policy exercisable for a period of 60 months from the date of issuance. All Options and underlying shares are subject to a four month hold period from the date of issuance.
MustGrow is a publicly traded (CSE: MGRO) (OTC: MGROF) (FRA: 0C0) agriculture biotech company focused on providing natural science-based biological solutions for high value crops, including fruits & vegetables and other industries. MustGrow has designed and owns a US EPA-approved natural solution that uses the mustard seed’s natural defence mechanism to protect plants from pests and diseases. Over 110 independent tests have been completed, validating MustGrow’s safe and effective signature technologies. The product, in granule format, is EPA-approved across all key US states and by Health Canada’s PMRA (Pest Management Regulatory Agency) as a biopesticide for high value crops such as in fruit & vegetables. MustGrow has now concentrated a mustard extract biopesticide in liquid format, TerraMG, and with regulatory approval, could be applied through standard drip or spray equipment, improving functionality and performance features. In addition, the Company’s mustard-derived extract technologies could have other applications in several different industries from preplant soil treatment, to weed control, to postharvest disease control and food preservation.
The Company has approximately 47.8 million basic common shares issued and outstanding and 55.1 million shares fully diluted. For further details please visit www.mustgrow.ca.
ON BEHALF OF THE BOARD
Director & CEO
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: (i) potential product approvals; (ii) anticipated actions by partners to drive field development work including dose rates, application frequency, application methods, and the regulatory work necessary for commercialization; and (iii) future professional roles of Ms. Westby.
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, among others, the following: (i) the preferences and choices of agricultural regulators with respect to product approval timelines; (ii) the ability of MustGrow’s partners to meet obligations under their respective agreements; and (iii) other risks described in more detail in MustGrow’s Annual Information Form for the year ended December 31, 2020 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 CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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