MustGrow Imports Bio-Pesticide into Colombia for Testing on “Panama Disease”: Existential Threat to Bananas
- National State of Emergency declared in Colombia.
- Panama Disease is existential threat to global $25 billion banana industry.
- Disease remains viable in soil for decades – no effective treatments currently available.
- MustGrow’s natural bio-pesticide technology has shown 100% control of similar diseases.
Saskatoon, SK, June 16, 2020 – MustGrow Biologics Corp. (CSE: MGRO) (OTC: MGROF) (FRA: 0C0) (the “Company“, “MustGrow“), an agricultural biotech company developing and commercializing a portfolio of natural, science-based biological crop protection products, is pleased to announce the successful importation of its bio-pesticide TerraMG into Colombia. TerraMG is MustGrow’s signature mustard-derived bio-pesticide formulation that has been proven to control soil-borne pests and diseases.
Laboratory testing in Colombia will focus on eradicating the Panama Disease (Fusarium wilt TR4), a devastating disease pathogen ravaging the $25 billion global banana industry. MustGrow’s previous independent efficacy studies involving the treatment of Fusarium oxysporum, a soil-borne pathogen, have demonstrated 100% control of the fungus. Panama Disease is among the most destructive banana diseases, affecting particularly Cavendish bananas (half of all bananas produced). Currently, there are no effective treatments for infected banana plantations, with the disease remaining viable for decades in the soil and can cause 100% yield loss(1).
MustGrow has already been working towards its US-EPA and Canadian-PMRA registrations of TerraMG for pre-plant treatment of soil-borne pests and diseases in high value fruits & vegetables. Now, MustGrow is replicating that strategy in Colombia’s besieged banana industry – focused on controlling and eliminating the Panama Disease. This work will build on MustGrow’s existing field data and serve as a benchmark for achieving registration labels in Colombia and other leading South American agricultural countries.
“This is a huge milestone for MustGrow, as we expand our footprint from North America to South America.” Remarked MustGrow COO Colin Bletsky. “The Colombian government has declared a National State of Emergency, with no viable options available to combat Panama Disease – we look forward to potentially aiding not only Colombian farmers, but the health and prosperity of the nation itself.”
The spread of Panama Disease through banana plantations in South America has prompted Colombia to reportedly declare a National State of Emergency, enacting special measures to stop the disease from spreading, including the preventive eradication of 168 hectares of infected crop. A flurry of media reports has followed, revealing a race to save bananas from extinction after the disease has left a trail of scorched banana plantations in its wake.
- Source: http://www.fao.org
MustGrow has issued 100,000 common share purchase warrants (each a “Warrant“) to a consultant of the Company in connection with achievement of this importation milestone. Each Warrant shall entitle the consultant to acquire one common share of the Company at a price of $0.28 exercisable until June 15, 2022. The issuance is subject to CSE approval and all securities are subject to a four-month hold period.
MustGrow is a publicly traded (CSE: MGRO) (OTC: MGROF) agriculture biotech company focused on providing natural science-based biological solutions for high value crops, including fruits & vegetables. MustGrow has designed and owns a United States 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 products. The product, in granule format, is EPA-approved across all key U.S. states and by Health Canada’s PMRA (Pest Management Regulatory Agency) as a bio-pesticide for high value crops such as in fruit & vegetables. MustGrow has now concentrated a liquid format that with regulatory approval, could be applied through standard drip or spray equipment, improving functionality and performance features.
The Company has approximately 37 million basic common shares issued and outstanding. For further details please visit www.mustgrow.ca.
ON BEHALF OF THE BOARD
Director & CEO
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