Investor Webcast: Friday, May 29th at 4:00pm ET / 1:00pm PT
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Saskatoon, Saskatchewan--(Newsfile Corp. - May 28, 2026) - MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) (FSE: 0C0) (the "Company" or "MustGrow"), a leading provider of biological and regenerative agriculture solutions, is pleased to announce its operating and financial results for the three months ended March 31, 2026. For complete details, please refer to the condensed interim financial statements for the three months ended March 31, 2026, and associated management's discussion and analysis, available on the Company's profile at SEDAR+: www.sedarplus.ca or on the Company's website at: www.mustgrow.ca.
Key Highlights for Q1-2026:
- TerraSante sales revenue of $0.1 million in Q1-2026 vs. nil in Q1-2025
- TerraSante gross margin of 23.6% in Q1-2026, up from 19.5% in 20251
- Expenses from continuing operations2 of $0.9 million in Q1-2026, down from $1.2 million in Q1-2025
- Net loss of $1.3 million in Q1-2026, down from $1.6 million in Q1-2025
- Cash and equivalents on hand as at March 31, 2026 was $0.4 million, with working capital of $1.5 million
"During the first quarter, our TerraSante contract manufacturers were increasing production capacity to accommodate our forward-looking product requirements, resulting in short-term manufacturing disruptions as production expanded from 'batch' production to 'continuous' lines dedicated to produce at higher volume rates," commented Corey Giasson, President and CEO of MustGrow. "These manufacturing disruptions have carried over to the second quarter, however, despite these disruptions, as production capacity for our products increases with our contract manufacturers, so will our ability to execute on timely delivery to meet the demand for our products in the U.S."
Notes:
- Gross margin is a non-IFRS financial measure. This ratio expresses gross profit as a percentage of revenue for a given period. It assists in explaining the Company's results from period to period and measuring profitability. This ratio is calculated by dividing gross profit for a period by the corresponding revenue for the period. There is no directly comparable IFRS measure.
- Operations related to NexusBioAg are presented as discontinued operations.
About MustGrow
MustGrow Biologics Corp. is a provider of innovative biological and regenerative agriculture solutions designed to support sustainable farming. The Company's technology is centered on harnessing the natural defense mechanisms and organic compounds found in mustard seed and formulating them into organic biofertility, biostimulant, and biocontrol products. These solutions are designed to protect soil health and the soil microbiome, support plant health, and contribute to global food security through more sustainable agricultural practices. In the United States, MustGrow's flagship biofertility product, TerraSante, is registered, organically certified, and commercially sold in key agricultural states, including California. Outside of North America, MustGrow is focused on collaborating with leading global agriculture companies, such as Bayer AG in Europe, the Middle East, and Africa, to commercialize its wholly owned proprietary products and technologies. The Company is dedicated to driving shareholder value through the commercialization and expansion of its intellectual property portfolio, which includes approximately 108 issued and pending patents. MustGrow is publicly traded on the TSX Venture Exchange under the symbol MGRO and has approximately 63.0 million common shares issued and outstanding, and approximately 76.7 million shares on a fully diluted basis.
For further details, please visit www.mustgrow.ca.
Contact Information
Corey Giasson Director & CEO
Phone: +1-306-668-2652
info@mustgrow.ca
MustGrow Forward-Looking Statements
Certain statements included in this news 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 in this news release, including statements about: achievement of increased production capacity for the Company's products by its contract manufacturers, and timing thereof; and future demand for the Company's products, and 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. Important factors that could cause MustGrow's actual results and financial condition to differ materially from those indicated in the forward-looking statements include: those risks described in more detail in MustGrow's Annual Information Form for the year ended December 31, 2025 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available on SEDAR+ at www.sedarplus.ca. Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.
Neither the TSX Venture Exchange, nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.
© 2026 MustGrow Biologics Corp. All rights reserved.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299314
Source: MustGrow Biologics Corp.
