MustGrow Receives Idaho Registration and Organic Approval for TerraSante(TM) Biofertility Product
Rhea-AI Summary
MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) has received approval from the Idaho State Department of Agriculture to sell TerraSante™, an organic biofertility product, in Idaho. This registration includes organic certification under MustGrow's existing Organic OMRI Listed® certifications in Oregon and Washington State.
TerraSante™ is a mustard plant-based technology focused on improving soil and soil microbiome health, nutrient and water use efficiencies, and plant yields. It contains nutritious plant proteins and carbohydrates that feed the soil and soil microbes, potentially enhancing beneficial microbial activity and promoting long-term sustainable soil health.
Idaho is a significant agricultural state, ranking #1 in the U.S. for potatoes, barley, alfalfa hay, peppermint oil, and food trout production. The state's total agricultural crop production in 2021 was valued at US$3.3 billion, with potatoes being the top crop at US$1.3 billion in 2023.
Positive
- Received approval to sell TerraSante™ in Idaho, a major agricultural state
- TerraSante™ has potential to improve soil health, nutrient uptake, and crop performance
- Expanding market presence with registrations in multiple U.S. states
Negative
- None.
News Market Reaction
On the day this news was published, MGROF declined 1.40%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
- MustGrow has received the Idaho State Department of Agriculture approval to commence sales of TerraSanteTM, an organic biofertility product, in Idaho.
- Mustard-derived TerraSanteTM focuses on soil and soil microbiome health, nutrient/water use efficiencies, and plant yields.
Saskatoon, Saskatchewan--(Newsfile Corp. - July 31, 2024) - MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) (FSE: 0C0) (the "Company" or "MustGrow") is pleased to announce receipt of the Idaho State Department of Agriculture registration approval for its mustard plant-based TerraSanteTM, an organic biofertility product. The Idaho organic certification is included under MustGrow's existing Organic OMRI Listed® certifications in Oregon and Washington State.
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Potatoes are Idaho's top crop with a total value of production of US
Idaho ranked #1 in the U.S. in five different agriculture commodities in 2021: potatoes, barley, alfalfa hay, peppermint oil and food trout. The state also ranked #2 in the U.S. in 2021 in sugar beets and hops; #4 in dry onions, spring wheat, and lentils, and #5 in dry edible beans, corn silage, and dry edible peas. According to USDA's National Agricultural Statistics Service, Idaho's total agricultural crop production in 2021 was US
TerraSanteTM for Soil and Ecological Health
MustGrow's soil amendment and biofertility development programs focus on soil and 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, TerraSanteTM contains nutritious plant proteins and carbohydrates that feed the soil and soil microbes, potentially improving beneficial microbial activity and ensuring long-term sustainable soil health. These targeted micro-communities have been shown to work to improve nutrient availability, which can potentially increase plant vigor and yields, while reducing plant stress. TerraSanteTM 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 TerraSanteTM, visit www.mustgrow.ca.
In May 2024, MustGrow announced receipt of the California Department of Food Agriculture registration approval for its organic biofertility product TerraSanteTM, and also organic certification from California's Organic Input Material (OIM) Program, a specific California requirement beyond MustGrow's existing Organic OMRI Listed® certifications in Oregon and Washington State. MustGrow's California registration and organic certification is a key pillar in the commercialization strategy with BioAg Product Strategies. In addition to Idaho, and recently-awarded California, Oregon and Washington State, MustGrow expects to continue its efforts towards further state-level registrations in other pertinent U.S. states.
Sources:
(1) https://www.uidaho.edu/-/media/UIdaho-Responsive/Files/Extension/publications/reports/financialcondition2023.pdf?la=en#:~:text=Hay%2C%20silage%2C%20feed%20grains%2C,as%20feed%20for%20Idaho%20livestock.&text=
(2) Idaho ranks No. 1 in five ag commodities | Idaho Farm Bureau (idahofb.org)
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, TerraSanteTM, 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 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: the size of the market opportunity, the outcome of the Company's promotional activities, whether MustGrow's organic biofertility product will complement the Company's existing biocontrol programs in preplant soil fumigation, postharvest food preservation, and bioherbicide; the application of MustGrow's biofungicide, and the efficacy of MustGrow's technology. 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. 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/218272
FAQ
What is TerraSante™ and how does it benefit agriculture?
In which states has MustGrow (MGROF) received approval for TerraSante™ as of July 31, 2024?
What was the value of Idaho's potato production in 2023?
How does TerraSante™ contribute to sustainable agriculture?
