- MustGrow will issue approximately 770,000 units at a price of $2.60 per unit for gross proceeds of approximately $2 million
- Each unit shall consist of one common share and one-half of one common share purchase warrant
- Proceeds will be used to advance the development of its pipeline assets and for working capital
- MustGrow is an agriculture biotech company
- MustGrow Biologics Corp. (MGRO) opened trading at C$3.00 per share
MustGrow Biologics (MGRO) is pleased to announce a non-brokered private placement.
The company will issue approximately 770,000 units at a price of $2.60 per unit for gross proceeds of approximately $2 million.
Each unit shall consist of one common share and one-half of one common share purchase warrant. Each full warrant shall entitle the holder to acquire one common share at a price of C$4.00 for a period of 24 months following the closing of the offering.
Proceeds will be used to advance the development of its pipeline assets, and for working capital and general corporate purposes.
The placement is scheduled to close on or about September 28, 2021.
All securities issued will be subject to a four-month hold period. The placement is subject to certain conditions including the approval of the Canadian Securities Exchange and the applicable securities regulatory authorities.
MustGrow is an agriculture biotech company focused on providing biological solutions for high-value crops, including fruits & vegetables and other industries. MustGrow has designed and owns a U.S. EPA-approved natural solution that uses the mustard seed’s natural defence mechanism to protect plants from pests and diseases.
MustGrow Biologics Corp. (MGRO) opened trading at C$3.00 per share.