- National State of Emergency declared in Colombia in 2019.
- Panama Disease is existential threat to the $25 billion global banana industry.
- Disease remains viable in soil for decades – no effective treatments currently available.
- MustGrow’s natural bio-pesticide technology has shown 100% control of similar diseases.
MustGrow Biologics Corp. (CSE: MGRO) (OTCQB: MGROF) (FRA: 0C0) (the “Company”, “MustGrow”) announces the commencement of testing of MustGrow’s proprietary TerraMG bio-pesticide formulation on the Panama Disease (Fusarium wilt TR4), a devastating disease pathogen ravaging the $25 billion global banana industry. MustGrow’s TerraMG bio-pesticide has been proven to control soil-borne diseases similar to Panama Disease.
The laboratory testing in Colombia will focus on the treatment of the Panama Disease. MustGrow’s previous independent efficacy studies in Canada have proven that TerraMG’s treatment of Fusarium oxysporum, a soil-borne pathogen, had 100% control of the fungus. Panama Disease is among the most destructive banana diseases, affecting particularly Cavendish bananas, which are half of all bananas produced globally. Currently, there are no effective treatments for the infected banana plantations, with the disease remaining viable for decades in the soil and can cause 100% yield loss.
MustGrow has already been working towards its US-EPA and Canadian-PMRA registrations of TerraMG for pre-plant treatment of soil-borne pests and diseases in high value crops such as fruits & vegetables. Now, MustGrow is replicating this strategy in Colombia’s besieged banana industry – focused on controlling and eliminating the Panama Disease. This work will build on MustGrow’s existing field data and serve as a benchmark for achieving registration labels in Colombia and other leading South American agricultural countries. MustGrow anticipates laboratory results in Q4-2020.
“This is an exciting program for MustGrow, as we push the boundaries of our bio-pesticide into a new continent with a currently untreatable disease,” remarked MustGrow CEO Corey Giasson. “With both banana producers and banana consumers rooting for us, we look forward to potentially providing a much needed solution for Colombian farmers.”
The spread of Panama Disease through banana plantations in South America has prompted Colombia to reportedly declare a National State of Emergency, enacting special measures to stop the disease from spreading, including the preventive eradication of 168 hectares of infected crop. A flurry of media reports has followed, revealing a race to save bananas from extinction after the disease has left a trail of scorched banana plantations in its wake.
MustGrow is a publicly traded (CSE: MGRO) (OTCQB: MGROF) (FRA:0C0) 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 which it’s calling TerraMG, and 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.
© 2020 MustGrow Biologics Corp. All rights reserved.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64739
News Provided by Newsfile via QuoteMedia