MustGrow Biologics Launches $2M Private Placement with Convertible Debentures, Targets TerraSante™ Growth
Summary
Accrued interest shall be payable semi-annually in cash.If, at any time following the date that is 12 months from the Closing Date, the daily volume weighted average trading price of the Common Shares on the TSX Venture Exchange (the "TSXV") is greater than for the preceding 30 consecutive trading days, the Company shall have the option to immediately accelerate the conversion of the Debentures at the Principal Conversion Price.The Company intends to use the proceeds from the Private Placement for inventory production for TerraSanteTM, working capital and general corporate purposes. Finders fees of cash and/or non-transferrable warrants may be paid in connection with the Private Placement in accordance with applicable laws.This press release does not constitute, and shall not be construed as, an offer to sell or a solicitation of an offer to buy any Units within the United States.MustGrow Biologics Corp. ("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. The Companys main focus is continued commercialization globally of its products and technologies, and to expand its intellectual property portfolio from approximately 112 patents that are issued and pending. Important factors that could cause MustGrows actual results and financial condition to differ materially from those indicated in the forward-looking statements include: successful completion of the Private Placement; the receipt of required corporate and regulatory approvals, including approval by the TSXV; the failure of the Private Placements to result in the anticipated benefits; the ability of the Company to raise additional capital to fund future operations; and those risks described in more detail in MustGrows 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 on SEDAR+ at www.sedarplus.ca. Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.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.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233286