Mustgrow closes $2-million private placement

Mr. Corey Giasson reports MUSTGROW CLOSES $2.0 MILLION NON-BROKERED LIFE OFFERING Mustgrow Biologics Corp. has closed its previously announced non-brokered private placement of four million units of the company at a price of 50 cents per unit for gross proceeds of $2-million. Each unit consists of (i) one common share of the company and (ii) one common share purchase warrant. Each whole warrant will be exercisable for a period of 60 months from the date of closing and will entitle the holder thereof to purchase one additional share at an exercise price of 70 cents per warrant share. The company intends to use the net proceeds raised from the LIFE offering for inventory production for its mustard-derived organic biofertility product TerraSante, inventory for agricultural products to sell via its Canadian distribution platform NexusBioAg, and working capital and general corporate purposes. The units sold pursuant to the LIFE offering were offered pursuant to the listed issuer financing exemption from the prospectus requirement available under Part 5A of National Instrument 45-106 -- Prospectus Exemptions as modified by Coordinated Blanket Order 45-935 -- Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. Subject to the rules and policies of the TSX Venture Exchange, the securities issuable from the sale of units to Canadian resident subscribers will not be subject to a hold period under applicable Canadian securities laws. As consideration for services, certain eligible finders received (i) an aggregate cash fee equal to $105,000, being 6.0 per cent of the gross proceeds of the LIFE offering from investors introduced to the company by such finders; and (ii) 210,000 non-transferable common share purchase warrants representing 6.0 per cent of the aggregate number of shares forming part of the units issued to investors introduced to the company by the finders. Each finder's warrant will entitle its holder to purchase one share at a price of 70 cents per share for a 60-month period. The finder warrants and any finder warrant shares issuable upon exercise thereof will be subject to a statutory hold period expiring four months and one day following the date of issue in accordance with applicable Canada securities laws. The LIFE offering remains subject to final approval of the TSX-V. About Mustgrow Biologics Corp. Mustgrow Biologics is a fully integrated provider of innovative biological and regenerative agriculture solutions designed to support sustainable farming. The company's proprietary and third party product lines offer eco-friendly alternatives to restricted or banned synthetic chemicals and fertilizers. In North America, Mustgrow offers a portfolio of third party crop nutrition solutions, including micronutrients, nitrogen stabilizers, biostimulants, adjuvants and foliar products. These products are synergistically distributed alongside Mustgrow's wholly owned proprietary products and technologies that are derived from mustard and developed into organic biocontrol and biofertility products to help replace banned or restricted synthetic chemicals and fertilizers. Outside of North America, Mustgrow is focused on collaborating with agriculture companies, such as Bayer AG in Europe, the Middle East and Africa, to commercialize Mustgrow's wholly owned proprietary products and technologies. The company is dedicated to driving shareholder value through the commercialization and expansion of its intellectual property portfolio of approximately 110 patents that are currently issued and pending, and the sales and distribution of its proprietary and third party product lines through NexusBioAg. Mustgrow is a publicly traded company and has approximately 62.9 million common shares issued and outstanding and 77.1 million shares fully diluted. We seek Safe Harbor.