MustGrow Biologics To Raise $2.0 Million In Private Placement

MustGrow Biologics (CSE: MGRO) this morning announced it will be conducting a small financing. The firm will look to raise $2.0 million via a non-brokered financing.

Under the terms of the financing, the company is selling units at a price of $2.60 per each. Each unit contains one common share and one full warrant, with each warrant priced at $4.00 per common share. Warrants are valid for a period of two years from the date of issuance.

Funds from the financing are to be used for the continued development of its pipeline assets, as well as for working capital and general corporate purposes.

The financing is expected to close September 28.

The news follows a major announcement made by the company last month, wherein it has entered into an exclusive evaluation and option agreement with that of Sumitomo Corporation.

MustGrow Biologics last traded at $3.00 on the CSE.


FULL DISCLOSURE: MustGrow Biologics Corp is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover MustGrow Biologics Corp on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

MustGrow Secures Patent For Mustard-Based Sprout Suppressant

MustGrow Biologics (CSE: MGRO) is pushing forward with its focus on natural biopesticides, this morning...

Monday, November 23, 2020, 07:27:00 AM

Curing The Banana Panama Disease – The Daily Dive feat Colin Bletsky of MustGrow Biologics

Kickstarting our short holiday week for the Daily Dive is that of Colin Bletsky, COO...

Monday, December 21, 2020, 01:00:00 PM

MustGrow Biologics Demonstrates 100% Control Of Panama Disease In Lab Tests

MustGrow Biologics (CSE: MGRO) has received the results from initial laboratory testing that was conducted...

Tuesday, December 1, 2020, 08:31:08 AM

MustGrow Achieves 100% Economical Control Of Panama Disease, Moves To Field Trials

MustGrow Biologics (CSE: MGRO) has seen further validation of its proprietary mustard derived biopesticide following...

Tuesday, February 9, 2021, 08:03:45 AM

MustGrow Biologics Updates Market On Its Biopesticide Product Pipeline

MustGrow Biologics (CSE: MGRO) this morning provided an update to the market on the status...

Wednesday, December 9, 2020, 07:22:59 AM