MustGrow Announces Grant of RSUs and DSUs

Rhea-AI Summary

MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) has announced the grant of 1,575,398 deferred share units (DSUs) and restricted share units (RSUs) to certain directors, officers, and consultants, effective September 3, 2024. This grant is made under the company's Omnibus Equity Incentive Plan. The DSUs will vest when the holder ceases to be a director, officer, or employee of MustGrow or its affiliates. Upon settlement, each DSU will entitle the holder to receive one common share in the company's capital or an equivalent cash payment, at MustGrow's discretion.

Positive

• Implementation of equity incentive plan to align interests of directors, officers, and consultants with shareholders
• Potential to retain key personnel through long-term incentives

Negative

• Potential dilution of existing shareholders' equity
• Future cash outflow if the company chooses cash settlement for DSUs

Saskatoon, Saskatchewan--(Newsfile Corp. - September 4, 2024) - MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) (FSE: 0C0) (the "Company" or "MustGrow") today announced that the board of directors of the Company authorized and approved the grant of a total of 1,575,398 deferred share units ("DSUs") and restricted share units ("RSUs") to certain directors, officers, and consultants of the Company, effective September 3, 2024. This grants of DSUs and RSUs are made pursuant to the Company's Omnibus Equity Incentive Plan (the "Plan").

The DSUs will vest when the holder ceases to be a director, officer or employee of the Company or any of its affiliates, as applicable. On settlement, each DSU will entitle the holder to recive to receive one common share in the capital of the Company or a cash payment equivalent thereof at the discretion of the Company.

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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 Organic Materials Review Institute (OMRI Listed^®) and California's Organic Input Material (OIM) Program registered biofertility product, TerraSante^TM, in key U.S. states including California. 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 55.7 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

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/222171

FAQ

How many DSUs and RSUs did MustGrow Biologics (MGROF) grant on September 3, 2024?

MustGrow Biologics granted a total of 1,575,398 deferred share units (DSUs) and restricted share units (RSUs) to certain directors, officers, and consultants on September 3, 2024.

When do the DSUs granted by MustGrow Biologics (MGROF) vest?

The DSUs granted by MustGrow Biologics will vest when the holder ceases to be a director, officer, or employee of the Company or any of its affiliates.

What options does MustGrow Biologics (MGROF) have for settling the DSUs?

Upon settlement, MustGrow Biologics has the discretion to provide either one common share in the capital of the Company or an equivalent cash payment for each DSU.

Under which plan were the DSUs and RSUs granted by MustGrow Biologics (MGROF)?

The DSUs and RSUs were granted pursuant to MustGrow Biologics' Omnibus Equity Incentive Plan.