- Agricultural biotech company, MustGrow Biologics (CSE:MGRO) has successfully imported its bio-pesticide, TerraMG, into Colombia
- The company will test TerraMG against Panama Disease, a fungal pathogen which is devastating South American banana plantations
- The rampant spread of the disease has prompted Colombia’s Government to declare a National State of Emergency
- In related news, MustGrow has issued 100,000 common share purchase warrants to a consultant connected to this milestone importation
- MustGrow Biologics (MGRO) is up 6.67 per cent and is currently trading at C$0.32 per share
Agricultural biotech company, MustGrow Biologics (CSE:MGRO) has successfully imported its bio-pesticide, TerraMG into Colombia.
The company will conduct laboratory testing in Colombia, assessing TerraMG’s efficacy in eradicating Panama Disease. Panama Disease is a fungal pathogen which is currently devastating South America’s banana plantations.
The disease is highly destructive to banana crops, causing up to 100 per cent yield loss. It is particularly damaging to Cavendish bananas, which represent approximately half of all bananas produced.
Panama Disease can remain viable in the soil for decades, and is currently resistant to all fungicides. Since the pathogen started spreading through South American banana plantations, Colombia’s Government has declared a National State of Emergency.
With no effective treatment methods available, the government has resorted to special measures to prevent further spread. These included eradicating 168 hectares of infected crop, in order to prevent further infections in nearby plantations.
MustGrow’s mustard-derived bio-pesticide, TerraMG, has already demonstrated encouraging results in handling soil-borne diseases. The bio-pesticide recently gained 100 per cent control of clubroot, a soil-borne disease which impacts Canadian canola crops.
In a previous independent efficacy study, MustGrow treated Fusarium oxysporum, a pathogen which is closely linked to Fusarium wilt. During the study, TerraMG demonstrated 100 per cent control of the fungus, indicating it may have similar success with Panama Disease.
MustGrow’s COO, Colin Bletsky, commented on the company’s milestone achievement in importing TerraMG to South America.
“The Colombian government has declared a National State of Emergency, with no viable options available to combat Panama Disease. We look forward to potentially aiding not only Colombian farmers, but the health and prosperity of the nation itself,” he said.
In related news, MustGrow has issued 100,000 common share purchase warrants to a consultant connected to this milestone importation.
With each warrant, the consultant will be able to acquire one common share in the company at C$0.28 per share. These purchase warrants will be exercisable until June 15, 2022.
MustGrow Biologics (MGRO) is up 6.67 per cent and trading at $0.32 per share, as of 9:57am EDT.