MustGrow Secures $2 Million Line of Credit with CIBC; Guaranteed by EDC
Rhea-AI Summary
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.
Positive
- None.
Negative
- 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
What is the size and terms of MustGrow's (MGROF) new line of credit?
How will MustGrow (MGROF) use the new line of credit?
What is TerraSante by MustGrow (MGROF)?
Who is guaranteeing MustGrow's (MGROF) line of credit?
What is the current market demand for MustGrow's (MGROF) TerraSante product?
