CEO Spotlight: Corey Giasson of MustGrow Biologics Corp.

CEO Spotlight: Corey Giasson of MustGrow Biologics Corp.

Welcome to Technical420! Today, we are fortunate to have Corey Giasson, CEO of MustGrow Biologics Corp., join us to discuss MustGrow and how they are driving innovation in the agricultural industry. Corey is the CEO of an emerging ag biotech company that has is focused on the production of natural Biopesticides to help replace synthetic chemicals in food production.

  1. Thank you for joining us Corey. To start us off, can you tell our readers about the business and where it is going?

MustGrow Biologics Corp. is an ag biotech company focused on providing natural, science-based biological solutions to replace synthetic chemicals used in high value crops such as fruit & vegetables, turf & ornamentals, tobacco, and cannabis & hemp.  We are the 100% owners of a patented technology which is derived from mustard seed and can be used as a natural bio-pesticide.  We’ve completed over 100 independent trials that show that our technology is just as affective, compared to synthetic chemicals at controlling soil borne pests and diseases such as nematodes and fusarium.

Our initial granular product was EPA and PMRA approved.  Now we have developed a liquid formation that is more concentrated than the granular and in a form that can be applied though drip lines. We are currently working on bridging the existing granular registrations to the new liquid formulation and hope to have this liquid product registered with the EPA and PMRA by the end of 2020.

  1. Congratulations on closing the private placement to finish 2019 strong. What are the companies plan to put that capital to work?

The proceeds from the $3.9 million private placement will be used for R&D and working capital and general corporate purposes, a portion of which will be to obtain our registrations for the new liquid formulations as well as bolster our patent portfolio in new market areas.  A lot of the “heavy lifting” on this company has already been completed.  For instance, the Company has spent over $10 million over the last year to develop and patent a technology and complete over a hundred independent research trails.  We know the technology works, and now we have a more concentrated version in a liquid form, which is what fruit & vegetable growers want – to be able to apply it through their current application systems.  Now we have to get the technology registered and with all the data that we have gather and the fact that the granular technology is already registered, we should be able to get the new liquid formulation registered in a timely and inexpensive way.    The following is what we are planning in the next 1-2 years:

  • We are looking to get our liquid formulation registered as a biopesticide in the US and Canada. We estimate that this will take approximately 12 months as we will be able to bridge off the existing granular bio-pesticide registrations in Canada and key US states minus California.  We estimate that California will take upwards of 2 years.
  • In addition, we will be moving our registration applications forward for our cannabis products (CannaPM and CannaMG).
  • Maintaining patents and applying for more patents where needed…ie: our technology for use as a non-selective herbicide.
  • We will also be spending some money on the proof of concept testing in some of the blue sky areas such as for:
    • Club root in Canola
    • Control of Panama Disease (new strain of Fusarium) in Banana’s
    • Control of mycotoxin’s in stored grains
  1. What is the company’s strategy to break into the $65 bill dollar pesticide market?
  • It’s a massive industry and we feel that our technology has application in numerous different market segments within:
    • First we have already had market penetration in the US F&V fumigation market, which is estimated to have $500MM in sales by 2025. We have proven that our technology is efficacious compared to the currently used synthetic chemicals, and now with our new liquid formation, we have shown that it has a great chance to be able to compete on price as well, and be in a form that fruit & vegetable growers want.
    • We have other blue sky markets that our technology may also get used in including the non-selective herbicide market, which is estimated to be $13 billion of annual sales. Our liquid formulation has killed plants including the root at a low rate and we have filled for patents on this. We will be doing further testing this spring on using our product as a non-selective herbicide on two hard to kill weeds.
  1. What makes MustGrow a true biologic and superior to the synthetic alternatives?

In terms of efficacy, I wouldn’t say that our technology is superior to synthetic alternatives at controlling soil borne pests and disease, but where it is superior is that it is natural and organic.

Synthetic chemicals are very effective a controlling pests and disease.  The only issue with synthetic chemicals is that they can sometime be very dangerous and harm consumers or workers.  For instance, methyl bromide is a dangerous synthetic chemical that has been banned in the US.  It has been a known cause of causing cancers in field workers.  Even though it has been banned, farmer’s still can get yearly permits to use it.  We estimate that 30% of us fruit and vegetable fields still us methyl bromide as pre-plant  fumigation, even though it has been banned.  What happens when you have a biologic product, like MustGrow’s that is natural and organic, but it is just as effective at controlling soil borne diseases with a similar efficacy to that of methyl bromide.

The key for us is that our product, which is derived from mustard seed is natural and organic, has been shown though independent third party studies to be just as effective as synthetic chemicals at controlling soil borne pest and disease.  Many natural biologics are safe relative to that of synthetic chemicals, but they have not as effective.  Based on third party independent research, our natural biologic technology is just as effective as synthetic chemicals at controlling pests and disease.  This is unheard of for a natural biologic.

  1. Can you elaborate on any patents or IP that is owned by the company as it relates to your production methods and products? 
  • We have a production and composition patents on the mustard derived granular and liquid formulations.
  • We have also applied for most recently for a method of use patent as a non-selective herbicide.
  1. Do you currently have any competitors in the biologics space especially as it relates to the cannabis vertical?
  • There are many companies trying to get their products into the cannabis space. A lot of these products are focused on the suppression of disease or insects, due to the fact that they do not have the efficacy to claim control.  In my opinion we are unique as we are the only natural product that has 100% control of the key soil bourne disease and pests.
  1. What does the company look like from an R&D perspective and are there any future SKU’s in the pipeline?

We have a large product pipeline.  Our technology has lots of potential in multiple segments in the agriculture industry.  For instance, the following:  non-selective herbicide, treatment of panama disease in banana’s, treatment of toxins that affect stored grains, treatment of clubroot that affects canola, treatment of shipping containers, etc.

The key for us is that we own the technology and it will not be very costly for us to do the initial proof of concept testing in several of these areas.  If a particular area has positive proof of concept, we will be contacting our contacts at the large multinational ag companies that may be interested in a particular area.  From there, we’ll be looking to partner to develop a commercialize our technology for a particular market segment.  The key is that we’ll own the technology and registrations.

  1. What are MustGrow’s revenue projections and major growth drivers for 2020 and beyond?

2020 will be a big year for us.  Our liquid formulation is complete and we are now in the process of getting it registered under the brand name TerraMGTM as a biopesticide with EPA and PMRA.  This will be for crop use as a pre-plant soil treatment in fruit & vegetables, turf & ornamental, tobacco and potatoes.  We hope to have this competed for Canada and key U.S. states excluding California.  We estimate California will take a bit longer…maybe have registration there as a bio-pesticide by end of 2021.  If all goes well, sales of TerraMG will potentially start in 2021.

As for the cannabis and hemp industries in Canada, we hope to have 3 products for sale by Q3-2020.  The first product will be our mustard derived technology to treat the soil used in cannabis pre-plant as we would do for fruit & vegetable growers.  This product we are calling CannaMGTM.  The second is a third-party product that we in-licensed last year and it bio-fungicide that has been used in the industry in the past to treat powdery mildew.  The company that owns the technology had cannabis removed from the label and we are bring it back under a MustGrow brand that we are going to call CannaPMTM.  We hope to have both of these products available for use in cannabis in Canada by Q3-2020.

The third product that we have for the cannabis industry in Canada is a biofertility product that is currently available for sale under the brand name, TP-1000.  The sell sheet on TP-1000 indicates that based on 3rd party trials have shown results with a 4.5% increase in dry bud weight and a 22% increase in terpenes.

Pursuant to an agreement between StoneBridge Partners LLC and MustGrow Biologics. (MGRO) we have been hired for a period of 180 days beginning January 10, 2020 and ending July 10, 2020 to publicly disseminate information about (MGRO) including on the Website and other media including Facebook and Twitter. We are being paid $6,500 per month (MGRO) for or were paid “0” shares of restricted common shares. We own zero shares of (MGRO), which we purchased in the open market. We plan to sell the “ZERO” shares of (MGRO) that we hold during the time the Website and/or Facebook and Twitter Information recommends that investors or visitors to the website purchase without further notice to you. We may buy or sell additional shares of (MGRO) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information.

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Authored By

Anthony Varrell

Anthony Varrell is Managing Director of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.

Published at Tue, 17 Mar 2020 11:34:40 +0000

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