Saskatoon, Saskatchewan–(Newsfile Corp. – August 6, 2020) – MustGrow Biologics Corp. (CSE: MGRO) (OTC: MGROF) (FSE: 0C0) (the “Company“, “MustGrow“), an agricultural biotech company developing and commercializing a portfolio of natural, science-based biological crop protection products, is pleased to provide a corporate update for its stakeholders. For MustGrow, 2020 has been an execution story which includes key achievements for patents, crop protection and international expansion. Chief Executive Officer Corey Giasson outlines its industry landscape, recent achievements, and near-term catalysts. The agricultural industry and investment capital flow is transitioning towards sustainable, natural, biological, and environmentally friendly farming practices. With an evolving regulatory backdrop seemingly tailor-made to develop organic bio-pesticides and bio-herbicides, MustGrow is poised to capitalize in 2020.
In January, MustGrow announced the filing of key patents related to a biological non-selective bio-herbicide, a timely development, as market-leading herbicides face scrutinous legal and regulatory challenges. A series of application rate tests with Canada’s National Research Council determined the applicability of MustGrow’s natural mustard-derived technology as a bio-herbicide. Using multiple application methods, herbicidal control was achieved after only 72 hours – controlling the trial plants from the root up.
In May, exciting results were announced: MustGrow confirmed 100% control of Clubroot spores in 24-hours, utilizing MustGrow’s signature mustard-derived liquid bio-pesticide. Of significance, the low application rate used in testing has the potential to be economic for canola growers. Clubroot is a rapidly spreading disease pathogen destroying canola, one of Canada’s more profitable crops. Once a field is infested, there are no chemical control measures currently available that can eradicate Clubroot, with some field infections leading to 100% crop loss.
In June, MustGrow commenced a tobacco crop protection research program funded by the Canadian Tobacco Research Foundation to target nematodes. Nematodes are parasitic worms that infect a tobacco plant’s root system with estimated annual damage of US$4.2 billion, or 15% of the global tobacco crop.
Also in June, MustGrow announced the successful importation of its bio-pesticide into Colombia to tackle the Panama Disease (Fusarium wilt TR4), a devastating disease pathogen ravaging the $25 billion global banana industry. Panama Disease is among the most destructive banana diseases, affecting particularly Cavendish bananas (half of all bananas produced). Currently, there are no effective treatments for infected banana plantations, with the disease remaining viable for decades in the soil and can cause 100% yield loss. MustGrow’s bio-pesticide has shown to have 100% control strains of Fusarium and has great potential to do the same with Fusarium wilt TR4.
Potential Third Quarter Catalysts
- Bananas in Colombia: Highly anticipated initial data on the Panama Disease. South American governments and global agricultural companies have been following MustGrow’s progress closely, since no chemical or biological pesticides have been able to effectively control Panama Disease.
- Non-selective bio-herbicide development progress.
- Further Canola Clubroot testing; data from greenhouse facility trials.
- Tobacco nematode test results.
- EPA regulatory process update for fruits & vegetables registration.
- Regulatory and business case analysis to continue expansion into new global geographies.
- New crop and food disease targets.
- Increasing investor engagement through investor & industry conferences and virtual roadshows.
MustGrow continues to execute on its vision to develop safe and effective biological crop protection bio-pesticides and bio-herbicides to displace potentially harmful synthetic chemicals. With ~$2.8 million cash in treasury, MustGrow is well-funded to execute current priorities. COVID-19 has not had any meaningful impact on the third-party facilities MustGrow engages to conduct research and testing work.
A Rare Alignment of Regulatory & Industry Mandates
The United States Environmental Protection Agency (“EPA“) promotes and encourages the use of safer pesticides, including bio-pesticides, requiring much less data to register a bio-pesticide than to register a conventional pesticide. In Europe, the European Commission is seeking to halve the use of chemical pesticides by 2030.
Some widely-used synthetic chemicals continue to be banned or deregistered globally. In 2018, France’s health safety watchdog ordered a ban on products containing metam sodium. Chlorpyrifos, one of the world’s most widely-used chemical pesticides, is under review by the EPA after a federal ban was proposed in 2015. Chlorpyrifos use has been banned in California & Hawaii, Denmark, Finland, Germany, Ireland, Latvia, Lithuania, Slovenia, Sweden and United Kingdom (with exception). In February 2020, Corteva (2019 spin-off from DowDuPont) announced its intention to stop producing chlorpyrifos.
Leading agriculture companies, including Scotts Miracle-Gro, Louis Dreyfus Company, and FMC Corporation have recently announced venture capital programs to fund early-stage technologies focused on bio-pesticide & bio-herbicide crop protection and environmentally sustainable innovations. Top crop chemical company Bayer AG aims to cut the environmental impact of crop protection by 30 percent by 2030 as part of its own sustainability goals. Increasingly, large ag-chemical companies have active mandates to partner, license or acquire biological crop protection products that are both safe & effective. MustGrow’s patented mustard-derived products have consistently demonstrated efficacious benefits similar to chemistry-based synthetic chemical products without the harmful safety profile often associated with these chemical products.
Investment Capital Flow
Access to information has empowered consumer choice. Consumers are increasingly casting ‘votes’ through spending habits – choosing which products and companies to support. The mainstream rise of organic food consumption, plant-based protein, pesticide-free produce and non-GMO products are not merely ‘trends’ – these are transformational shifts in how food is grown and consumed… an agricultural metamorphosis. The interest in bio-pesticides is increasing as farmers, consumers and investors seek ‘natural biological’ alternatives to synthetic chemical pesticides. The surge of environmental, sustainability and governance funds (“ESG“) exemplifies this transformation. As with consumers buying more organic products, investment capital is flowing into ESG funds and companies with ESG features. In 2019, net capital flows into ESG funds smashed previous records, totalling US$21 billion in the U.S. (four times 2018 net inflows). European inflows into sustainable funds topped €120 billion (double 2018).
As consumers, regulators and investors demand a natural, healthier and safer food supply, leading agriculture companies are heavily investing in alternatives to synthetic chemical pesticides. Natural bio-pesticides will need to fill the void. Adverse global climate and weather events are expected to negatively impact food supply for a growing human population. Warmer temperatures are expected to increase pest infestations and with more pests there will be more damage to crops. In addition, as the world population and its affluence increase, protein-rich diets place higher stress on crop production and the planet – a planet with finite productive land. Safe and effective bio-pesticides will be critical for future food security and environmentally sustainable agriculture. Research firm Markets and Markets sees the global bio-pesticide market size doubling to US$8.5 billion by 2025.
I encourage shareholders, prospective shareholders, and other stakeholders to contact me directly if you wish to further understand the strategies we’ve deployed to achieve our primary goals: accelerate MustGrow’s remarkably safe & effective crop protection products while maximizing shareholder value.
MustGrow is a publicly traded (CSE: MGRO) (OTC: MGROF) agriculture biotech company focused on providing natural science-based biological solutions for high value crops, including fruits & vegetables. MustGrow has designed and owns a United States EPA-approved natural solution that uses the mustard seed’s natural defence mechanism to protect plants from pests and diseases. Over 110 independent tests have been completed, validating MustGrow’s safe and effective signature products. The product, in granule format, is EPA-approved across all key U.S. states and by Health Canada’s PMRA (Pest Management Regulatory Agency) as a bio-pesticide for high value crops such as in fruit & vegetables. MustGrow has now concentrated a liquid format that with regulatory approval, could be applied through standard drip or spray equipment, improving functionality and performance features.
The Company has approximately 37 million basic common shares issued and outstanding. For further details please visit www.mustgrow.ca.
ON BEHALF OF THE BOARD
Director & CEO
Certain statements included in this press 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.
These risks are described in more detail in MustGrow’s Prospectus and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities and 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 CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Always read and follow label use directions. © 2020 MustGrow Biologics Corp. All rights reserved.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61161
Successful completion of feasibility study for the development of topical medical cannabis products based on AKVANO® technology
Cannassure Therapeutics Ltd (TASE: CSURE) (“Cannassure”), an Israel based developer and producer of innovative medical cannabis products, announces today the successful completion of a feasibility study for the development of IP protected, homogeneous, topical medical Cannabis products for the treatment of skin inflammation, including psoriatic lesions.
Product development of such topical medical Cannabis products based on AKVANO® is being conducted under a collaboration between Cannassure and Lipidor AB (“Lipidor”), a Swedish topical drug development company, owner of the proprietary drug delivery platform technology AKVANO™, which was signed in December 2019. The development project budget is partially funded by the Israeli Innovation Authority, by a non-dilutive grant.
The product under development is an incorporation of cannabinoids with AKVANO®, a topical drug delivery platform. Successful development of the product will allow localized administration of a precise dosage of cannabinoids using a spray, in a technology that allows for prolonged contact and optimal penetration of the active ingredient into the skin.
As part of the feasibility study, AKVANO® technology and cannabinoids were tested for compatibility, and it was found that the cannabinoids can be successfully combined in the AKVANO® system for a homogeneous, uniform and stable formulation. Cannassure tested the degree of product penetration into the skin by using known and acceptable models and found significant penetration of active ingredients into the skin tissue. This enhanced penetration may increase the therapeutic potential of the product. Based on these results, Cannassure will proceed to accelerated development stages and more advanced testings.
According to the agreement, Cannassure has informed Lipidor on its intention to start negotiating an exclusive global license for the use of Lipidor’s technology for the development of cannabinoids based topical therapeutics products for the treatment of indications to be chosen by Cannassure.
The main guidelines for the licencing agreement, including royalties to be paid to Lipidor on product sales, were defined in the collaboration agreement.
According to estimates, the global market for products for the treatment of psoriasis is expected to reach 21.1 billion dollars by 20221. The current global market for topical products for the treatment of psoriasis is valued at 7 billion dollars2, and the global market for topical pain treatment products is projected to reach 13 billion dollars3.
The product development of topical treatments based on cannabinoids is in line with Cannassure’s strategy focused on the development and commercialisation of innovative medical cannabis products based on established drug delivery systems and formulations for enhanced therapeutic value. The product development is performed under the Israeli Medical Cannabis regulation, which allows a short development process.
Lipidor announces positive outcome of feasibility study for development of topical medical cannabis products based on the company’s AKVANO® technology
Lipidor AB (Nasdaq First North:LIPI) today announces a positive outcome of the feasibility study into the development of topical medicinal cannabis products for the treatment of skin inflammations and psoriatic lesions. The study was conducted in collaboration with Cannassure Therapeutics Ltd. , an Israeli company specializing in the development and manufacture of innovative medicinal cannabis products. Under the joint development agreement signed in December 2019, Cannassure has now announced that it intends to exercise its option and begin the negotiation of an exclusive licensing agreement for the use of AKVANO®, Lipidor’s proprietary drug delivery technology, for the indications chosen by Cannassure. The main guidelines for the licencing agreement, including royalties (double digit) to be paid to Lipidor on product sales, were defined in the collaboration agreement.
The collaboration began with an evaluation of the possibility of incorporating various active drug substances from the cannabis plant into AKVANO®. The formulation work has been carried out in Israel at Cannassure’s state-of-the-art facilities with support from Lipidor’s formulation experts.
The product under development is based on a topical medical cannabinoid that has been incorporated into the AKVANO® formulation platform. The successful development of the product will make it possible to administer the medical cannabinoid as a spray, locally and in the exact desired amount, which together ensures improved contact and optimal penetration of the active substance into the skin.
As part of the feasibility study, AKVANO® technology and cannabinoids were tested for compatibility, demonstrating that cannabinoids can be combined in the AKVANO® system as a homogeneous, uniform and stable formulation. Cannassure tested the degree of product penetration into the skin using known and accepted models and found significant penetration of active ingredients into skin tissue. This improved penetration may increase the therapeutic potential of the product. According to Cannassure, based on these results, the company will go ahead, accelerating the pace of development steps and conducting more advanced testing. Cannassure will implement the technology for the development and commercialization of sprayable medicinal cannabis products based on AKVANO®.
The common goal is to introduce innovative topical treatments to the fast-growing global market for medical cannabis products.
“We are very pleased with the positive outcome of the feasibility study, which confirms our previous high hopes. The result is an important milestone for Lipidor and for our unique formulation platform, showing that cannabinoids can be incorporated into AKVANO®. The collaboration with our partner Cannassure represents significant commercial potential for Lipidor,” says Ola Holmlund, CEO of Lipidor AB.
“We look forward to continued successful cooperation with Cannassure in the field of medical cannabis.”
This disclosure contains information that Lipidor is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 30-09-2020 08:00 CET.
Christina Lake Announces Commencement of Trading on the CSE
VANCOUVER, British Columbia, Sept. 29, 2020 (GLOBE NEWSWIRE) — Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina Lake Cannabis”), a premier producer of high-quality, low-cost, sun-grown cannabis flower, oil cannabinoids, as well as hemp-based extracts and derivatives, serving domestic and international markets, is pleased to announce that its common shares will begin trading on the Canadian Securities Exchange (“CSE”) at 9:30 am EDT on Thursday October 1, 2020 under the ticker symbol “CLC”.
In October 2018, CLC began its roadmap to becoming one of the largest firms in the country for outdoor cannabis cultivation and extraction by purchasing a cultivation building and fully-serviced 32-acre site in the Christina Lake region of British Columbia. CLC received approval for a standard cultivation license from Health Canada in early 2019, with a research and development license granted in the beginning of 2020. In summer 2020 the Company began harvesting more than 22,500 plants of eight unique cannabis strains, which is expected to yield a minimum of 22,500 kg/49,500 lb. With over 30 full-time staff members and seasonal workers, CLC is also the largest employer in its region. To date, the Company’s successive investment rounds have raised a total of approximately CAD $16,000,000, which enables CLC to maintain a reserve of funds for ongoing operations.
Nicco Dehaan, a founder of the Company and its Chief Operating Officer commented, “Having been part of CLC from the beginning, I am very proud of the progress made since 2018 for both the Company and the cannabis industry in general. We were very confident in the amount of growth potential this industry had, and we knew Christina Lake would be the perfect region in which to conduct outdoor growing of cannabis. As with any regulated industry, there were many hoops to jump through in order to obtain license approvals and build out a compliant operating structure. Further, applying to have CLC’s equity traded on a public stock exchange introduces a whole other set of requirements to meet and satisfy on an ongoing basis. Between obtaining our licensed producer status from Health Canada, hiring on full-time personnel for several key professional roles, and beginning to harvest our first crop for the 2020 growing season, receiving approval for trading on the CSE is an excellent addition to our momentum as we prepare to bring our first crop to market. We look forward to a productive Q4 2020, with very exciting developments to be had in 2021 and beyond.”
About Christina Lake Cannabis Corp.
Christina Lake Cannabis Corp is a Licensed Producer of cannabis under the Cannabis Act which also received a Research and Development License from Health Canada on May 20, 2020. CLC’s facility is comprised of a 32-acre property, which includes over 950,000 square feet of outdoor grow space, offices, propagation and drying rooms, as well as research facilities, and a facility dedicated to processing and extraction. CLC cultivates cannabis using strains specifically developed for outdoor cultivation and expects to produce 22,500 kg or more from its 32-acre facility before developing its adjacent 99-acre expansion property, which will bring its cultivation footprint to over 4.35 million square feet or over 88,000 kg of low-cost, high-quality, sun-grown cannabis annually.
For more information about CLC, please visit: www.clcannabis.com
On behalf of Christina Lake Cannabis Corp.:
Joel Dumaresq, CEO and Director
Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.
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