MustGrow Signs Exclusive Distribution Agreement with G.S. Long Co., Inc. for TerraSante(TM) Biofertility Product

Rhea-AI Summary

MustGrow Biologics Corp. has signed an exclusive distribution agreement with G.S. Long Co., Inc. for its TerraSanteTM biofertility product in Oregon and Washington State. TerraSanteTM is organic certified through the USDA National Organic Program, focusing on soil microbiome health, nutrient/water efficiencies, and plant yields. The agreement marks a significant milestone in MustGrow's commercialization strategy. G.S. Long Company is a well-established agricultural retailer with crop consultant capabilities, extending MustGrow's reach in the market. Sales in both states will be authorized under existing product registrations, with plans for further state-level registrations. Oregon and Washington present a strong market opportunity for organic produce, aligning with MustGrow's goals of sustainable agriculture practices.

Positive

• Exclusive distribution agreement with G.S. Long Co., Inc. expands market reach for TerraSanteTM biofertility product in Oregon and Washington State.

• TerraSanteTM is organic certified through USDA National Organic Program, focusing on soil microbiome health, nutrient/water efficiencies, and plant yields.

• MustGrow's commercialization strategy progresses with key milestone achieved through the agreement with G.S. Long Company.

• G.S. Long Company's established presence and crop consultant capabilities enhance MustGrow's market penetration and customer relationships.

• MustGrow's existing product registrations enable authorized sales of TerraSanteTM in Oregon and Washington, with plans for further state-level registrations in progress.

• Strong market opportunities in Oregon and Washington State for organic produce cultivation align with MustGrow's focus on sustainable agriculture practices and market trends.

Negative

• None.

• G.S. Long Co., Inc. has exclusive distribution rights for MustGrow's TerraSante^TM biofertility product in Oregon and Washington State.

• MustGrow's mustard-derived TerraSante^TM is organic certified through the USDA National Organic Program (OMRI Listed®).

• TerraSante^TM focuses on soil microbiome health, nutrient/water use efficiencies, and plant yields.

Saskatoon, Saskatchewan--(Newsfile Corp. - May 2, 2024) - MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) (FSE: 0C0) (the "Company" or "MustGrow") is pleased to announce an exclusive distribution agreement (the "Agreement") with G.S. Long Co., Inc. ("G.S. Long Company") for MustGrow's TerraSante^TM biofertility product in Oregon and Washington State.

TerraSanteTM and OMRI Listed® logos

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TerraSante^TM is organic certified via the USDA National Organic Program (OMRI Listed®) and focuses on soil microbiome health, nutrient/water use efficiencies, and plant yields. The Agreement represents a key milestone of MustGrow's commercialization strategy with Oregon-based Bio Ag Product Strategies to develop and commercialize MustGrow's soil amendment and biofertility technologies, including TerraSante^TM.

G.S. Long Company (website) is a family-owned and operated agricultural chemical and fertilizer retailer headquartered in Central Washington with additional branches located in both Washington and Oregon State, and with deep crop consultant capabilities representing generational grower relationships. They have over 40 state-licensed Crop Advisors providing a variety of full-service consulting to its farming customers, including: conventional, IPM and organic consulting, pest and disease monitoring, recommendations for control and management, soil & crop nutrition, crop load management and quality, soil and leaf analysis, regulatory and market industry compliance, as well as offering a number of continuing education events for the agricultural industry.

Sales of MustGrow's mustard plant-derived organic biofertility product TerraSante^TM in both Oregon and Washington State will be authorized under MustGrow's existing product registrations. In addition to Oregon and Washington State, MustGrow expects to continue its efforts towards further state-level registrations in other pertinent U.S. states.

MustGrow's TerraSante^TM product complements the Company's existing biocontrol programs in preplant soil fumigation, postharvest food preservation, and bioherbicide, which are currently under development with four global partners: Bayer, Sumitomo Corporation, Janssen PMP, and NexusBioAg.

The Market Opportunity in Oregon and Washington State

In 2021, Oregon recorded $5.0 billion USD in agriculture production on 16 million acres of farmland and contributed $2.6 billion USD in agriculture exports.⁽¹⁾ Agriculture plays a critical role in the state's economy, generating 13% of the state's gross product and $30 billion USD in wages.⁽¹⁾ Oregon farmers grow a wide variety of fruits and vegetables, including potatoes, tomatoes, strawberries, wine-making grapes, cherries, pears, and apples. Oregon farmers are regarded for their innovative commitment to sustainable agriculture with a rising trend toward organic and sustainable farming practices.⁽²⁾ MustGrow believes its organic TerraSante^TM product will position Oregon farmers to meet increasing demand for organic, local, and healthy produce.

In 2019, Washington State agriculture production totaled $9.49 billion USD. Washington State's rich soils, diverse climates, and large-scale irrigation nurtures production of over 300 different crops in one of the world's most productive agricultural regions. For example, Washington State is the nation's largest producer of apples, blueberries, hops, pears, spearmint oil, and sweet cherries; and the number two producer of apricots, asparagus, dry onions, grapes, potatoes, raspberries, and winter wheat. Organic acres total 105,660, representing $652 million USD in total farm gate sales, with another 7,824 acres in certified organic transition.⁽³⁾

TerraSante^TM for Soil and Ecological Health

MustGrow's soil amendment and biofertility development programs focus on soil microbiome health, nutrient and water use efficiencies, and plant yields. Soil is a farmer's most valuable asset, and MustGrow's mustard plant-based technologies are being developed with the intention to improve not only the health of the soil, but also the surrounding ecological environment.

As an organic biofertilizer in soluble mixable form, TerraSante^TM contains nutritious plant proteins and carbohydrates that feed soil microbes, potentially improving beneficial microbial activity and ensuring long-term sustainable soil health. These targeted micro-communities have been shown to improve nutrient availability, which can potentially increase plant vigor and yields, while reducing plant stress. TerraSante^TM has the potential to improve crop nutrient uptake and, hence, overall crop performance. There are no artificial additives or preservatives used during its manufacturing.

To learn more about TerraSante™, visit www.mustgrow.ca.

Sources:
(1) https://www.oregon.gov/oda/shared/documents/publications/administration/boardreport.pdf
(2) https://farmloans.com/general-farm-news/how-oregon-farming-plays-a-key-role-in-the-agriculture-industry/
(3) https://agr.wa.gov/washington-agriculture

About MustGrow

MustGrow is an agriculture biotech company developing organic biocontrol and biofertility products by harnessing the natural defense mechanism and organic materials of the mustard plant to sustainably protect the global food supply and help farmers feed the world. MustGrow and its leading global partners -- Bayer, Janssen PMP (pharmaceutical division of Johnson & Johnson), Sumitomo Corporation, and Univar Solutions' NexusBioAg -- are developing mustard-based organic solutions for applications in biocontrol to potentially replace harmful synthetic chemicals in preplant soil treatment and weed control, to postharvest disease control and food preservation. Bayer has a commercial agreement to develop and commercialize MustGrow's biocontrol soil applications in Europe, Africa, and the Middle East. Concurrently, with new formulations derived from food-grade mustard, the Company is pursuing the adoption and use of its first registered and OMRI Listed^® product, TerraSante^TM, in key U.S. states. Over 150 independent tests have been completed, validating MustGrow's safe and effective approach to crop and food protection and yield enhancements. Pending regulatory approval, MustGrow's patented liquid technologies could be applied through injection, standard drip or spray equipment, improving functionality and performance features. MustGrow has approximately 51.6 million basic common shares issued and outstanding and 54.1 million shares fully diluted. For further details, please visit www.mustgrow.ca.

Contact Information

Corey Giasson
Director & CEO
Phone: +1-306-668-2652
info@mustgrow.ca

MustGrow Forward-Looking Statements

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: MustGrow continuing its efforts towards further state-level registrations in other pertinent U.S. states; MustGrow's TerraSante^TM product positioning Oregon farmers to meet increasing demand for organic, local, and healthy produce; and TerraSante^TM's potential to improve crop nutrient uptake and, hence, overall crop performance. 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 market receptivity to investor relations activities as well as those risks described in more detail in MustGrow's Annual Information Form for the year ended December 31, 2023 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 TSXV, nor their Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.

© 2024 MustGrow Biologics Corp. All rights reserved.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207707

FAQ

What is the name of the biofertility product in the exclusive distribution agreement?

The biofertility product is called TerraSanteTM.

Which states are covered under the exclusive distribution agreement?

The exclusive distribution agreement covers Oregon and Washington State.

What certification does TerraSanteTM have?

TerraSanteTM is organic certified through the USDA National Organic Program.

Who is the partner in the distribution agreement?

The partner in the distribution agreement is G.S. Long Co., Inc.

Where can I learn more about TerraSanteTM?

To learn more about TerraSanteTM, visit www.mustgrow.ca.