MustGrow Secures $2 Million Line of Credit with CIBC; Guaranteed by EDC
MustGrow Biologics (OTCQB: MGROF) has secured a $2.0 million line of credit (LOC) from CIBC, guaranteed by Export Development Canada. The LOC carries an interest rate of prime rate plus 1.00% (current prime rate: 4.95%).
The funding will be used to produce TerraSante™, the company's organic mustard-derived biofertility product, to meet growing U.S. commercial farming demand. Additionally, the LOC will support working capital requirements for NexusBioAg, MustGrow's Canadian sales and distribution division.
MustGrow Biologics (OTCQB: MGROF) ha ottenuto una linea di credito (LOC) da 2,0 milioni di dollari da CIBC, garantita da Export Development Canada. La LOC prevede un tasso d'interesse pari al tasso prime più l'1,00% (tasso prime attuale: 4,95%).
I fondi saranno impiegati per produrre TerraSante™, il prodotto biofertilizzante organico a base di senape dell'azienda, per soddisfare la crescente domanda del settore agricolo commerciale negli Stati Uniti. Inoltre, la LOC supporterà il fabbisogno di capitale circolante di NexusBioAg, la divisione vendite e distribuzione canadese di MustGrow.
MustGrow Biologics (OTCQB: MGROF) ha asegurado una línea de crédito (LOC) de 2,0 millones de dólares con CIBC, garantizada por Export Development Canada. La LOC lleva un tipo de interés de prime más 1,00% (prime actual: 4,95%).
Los fondos se destinarán a producir TerraSante™, el producto biofertilizante orgánico derivado de mostaza de la compañía, para atender la creciente demanda de la agricultura comercial en EE. UU. Además, la LOC respaldará las necesidades de capital circulante de NexusBioAg, la división canadiense de ventas y distribución de MustGrow.
MustGrow Biologics (OTCQB: MGROF)가 Export Development Canada의 보증을 받아 CIBC로부터 200만 달러 규모의 신용한도(LOC)를 확보했습니다. 해당 LOC의 이자율은 프라임 금리 + 1.00%입니다(현재 프라임 금리: 4.95%).
자금은 회사의 유기농 겨자(머스타드) 기반 바이오비옥성 제품인 TerraSante™ 생산에 사용되어 미국 상업 농업에서 증가하는 수요를 충족할 예정입니다. 또한 LOC는 MustGrow의 캐나다 판매·유통 부문인 NexusBioAg의 운전자본 요구를 지원할 것입니다.
MustGrow Biologics (OTCQB: MGROF) a obtenu une ligne de crédit (LOC) de 2,0 millions de dollars auprès de la CIBC, garantie par Export Development Canada. La LOC porte un taux d'intérêt de prime plus 1,00% (prime actuelle : 4,95%).
Les fonds serviront à produire TerraSante™, le produit biofertilisant organique dérivé de la moutarde de la société, afin de répondre à la demande croissante de l'agriculture commerciale aux États-Unis. De plus, la LOC soutiendra les besoins en fonds de roulement de NexusBioAg, la division canadienne de vente et distribution de MustGrow.
MustGrow Biologics (OTCQB: MGROF) hat eine Kreditlinie (LOC) über 2,0 Millionen US-Dollar von der CIBC erhalten, die von Export Development Canada garantiert wird. Die LOC hat einen Zinssatz von Prime Rate zuzüglich 1,00% (aktuelle Prime Rate: 4,95%).
Die Mittel werden zur Produktion von TerraSante™ verwendet, dem organischen, senfbasierten Bio-Düngemittelprodukt des Unternehmens, um der wachsenden Nachfrage der US-amerikanischen kommerziellen Landwirtschaft gerecht zu werden. Zusätzlich wird die LOC das Betriebskapital von NexusBioAg unterstützen, der kanadischen Vertriebs- und Verkaufsdivision von MustGrow.
- None.
- Additional debt on balance sheet
- Interest rate exposure to variable prime rate
Saskatoon, Saskatchewan--(Newsfile Corp. - September 10, 2025) - MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) (FSE: 0C0) (the "Company" or "MustGrow") is pleased to announce it has secured a
Access to funds will allow MustGrow to produce its organic mustard-derived biofertility product TerraSanteTM to meet growing demand from U.S. commercial farming operations. In addition, the LOC will help support working capital requirements for its Canadian sales and distribution division, NexusBioAg.
The LOC carries an interest rate linked to Canada's prime rate plus
"We are seeing significant uptake from large U.S. commercial farming operations, which further validates the effectiveness, efficiency, and economics of our organic biofertility product TerraSanteTM," asserted Corey Giasson, President and CEO of MustGrow. "Utilizing our LOC on such favourable terms will enable us to build inventory to meet increasing U.S. demand for TerraSanteTM and support NexusBioAg's growing operations here in Canada."
About MustGrow
MustGrow Biologics Corp. is a fully-integrated provider of innovative biological and regenerative agriculture solutions designed to support sustainable farming. The Company's proprietary and third-party product lines offer eco-friendly alternatives to restricted or banned synthetic chemicals and fertilizers. In North America, MustGrow offers a portfolio of third-party crop nutrition solutions, including micronutrients, nitrogen stabilizers, biostimulants, adjuvants and foliar products. These products are synergistically distributed alongside MustGrow's wholly-owned proprietary products and technologies that are derived from mustard and developed into organic biocontrol and biofertility products to help replace banned or restricted synthetic chemicals and fertilizers. Outside of North America, MustGrow is focused on collaborating with agriculture companies, such as Bayer AG in Europe, the Middle East and Africa, to commercialize MustGrow's wholly-owned proprietary products and technologies. The Company is dedicated to driving shareholder value through the commercialization and expansion of its intellectual property portfolio of approximately 109 patents that are currently issued and pending, and the sales and distribution of its proprietary and third-party product lines through NexusBioAg. MustGrow is a publicly traded company (TSXV: MGRO) and has approximately 58.9 million common shares issued and outstanding and 67.5 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". 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: the receipt of final approval by the TSXV and those risks described in more detail in MustGrow's Annual Information Form for the year ended December 31, 2024 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.
© 2025 MustGrow Biologics Corp. All rights reserved.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265763
FAQ
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