MustGrow Enters Exclusive Marketing And Distribution Agreement With NexusBioAg
MustGrow Biologics (CSE: MGRO) has seen further validation of its tech this morning, with the announcement of an expansion of an arrangement with NexusBioAg, a subsidiary of Univar Solutions. The two firms have reached a marketing and distribution arrangement within Canada for MustGrow’s TerraMG product.
The arrangement follows field trials conducted last year for MustGrow’s mustard-derived biopesticide, referred to as TerraMG. The field trials were focused on the products impact against clubroot and aphanomyces disease, with the field trials conducted on both canola and pulse crops.
The field trials, evidently, were successful, with NexusBioAg entering into an exclusive arrangement for the marketing and distribution of TerraMG in Canada for canola and pulse crops. The product is yet to be registered with the Pest Management Regulatory Agency.
“TerraMG complements the NexusBioAg portfolio and we are excited to add this technology to our growing product offering. As the sole distributor of TerraMG in Canada for use in canola and pulse crops, this agreement further reinforces NexusBioAg’s commitment to collaborating with leading manufacturers to launch innovative, sustainable and cutting-edge solutions that provide value to the Canadian agricultural industry and benefit its growers,” commented SVP of Global Consumer Solutions for Univar, Matthew Ottaway.
The duo will now look to commercialize the biopesticide product within Canada as part of the agreement.
Financial details of the arrangement were not provided.
MustGrow Biologics last traded at $3.01 on the CSE.
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