MustGrow closes C$3.7M non-brokered offering to fund TerraSante inventory
What's the deal? MustGrow Biologics, a Saskatoon-based agriculture biotech, has closed a non-brokered share offering raising roughly C$3.7 million.
The company sold 7,481,541 units at C$0.50 each. Each unit included one common share and one warrant to buy another share at C$0.70 within five years.
Why now? MustGrow plans to use the proceeds to build inventory of TerraSante, its mustard-derived organic biofertility product, plus working capital and general corporate needs.
The raise still needs final approval from the TSX Venture Exchange.
What could go wrong? Issuing shares and warrants dilutes existing holders, and the warrants could pile on more dilution if exercised.
Finders also took C$110,865 in cash, equal to 6% of gross proceeds, plus 221,730 warrants. That trims the net cash actually reaching the company.
The signal: The deal reflects steady investor interest in regenerative agriculture, where firms are turning natural compounds into greener alternatives to synthetic inputs. By using a structure that frees Canadian subscribers from a hold period, MustGrow has opted to fund TerraSante's inventory build incrementally rather than through a single large raise — a cautious approach for a company betting that mustard-seed crop products can protect soil health while supporting food security.
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Image: mustard crop, Rajasthan — Trees for the Future, CC BY 2.0, via Wikimedia Commons.
