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MustGrow Closes Non-Brokered LIFE Offering of Approximately $2.1 Million, Repricing of Warrants, and Shares for Debt Settlement
Saskatoon, Saskatchewan--(Newsfile Corp. - August 29, 2025) - MustGrow Biologics Corp. (TSXV: MG...
About this update from Mustgrow Biologics Corp.
[{"type":"text","content":"MustGrow Closes Non-Brokered LIFE Offering of Approximately $2.1 Million, Repricing of Warrants, and Shares for Debt SettlementSaskatoon, Saskatchewan--(Newsfile Corp. - August 29, 2025) - MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) (FSE: 0C0) (the \"Company\" or \"MustGrow\"), is pleased to announce: (i) the closing of its previously annoucned non-brokered private placement of 3,059,731 units of the Company (each, a \"Unit\") at a price of $0.70 per Unit for gross proceeds of approximately $2,141,812 (the \"LIFE Offering\"); (ii) the repricing of outstanding share purchase warrants issued pursuant to its January 16, 2025 private placement (the \"Warrant Repricing\"); and (iii) the settement of a shares for debt agreement to certain holders of unsecured convertible debentures issued pursuant to its January 16, 2025 private placement (the \"Shares for Debenture Debt Settlement\").LIFE OfferingEach Unit consists of (i) one common share of the Company (a \"Share\") and (ii) one common share purchase warrant (a \"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 (a \"Warrant Share\") at an exercise price of $0.90 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 TerraSanteTM, inventory for agricultural products to sell via its Canadian distribution platform NexusBioAg, and working capital and general corporate purposes.Subject to the rules and policies of the TSX Venture Exchange (the \"TSXV\"), the securities issuable from the sale of Units to subscribers are not subject to a hold period under applicable Canadian securities laws. Insiders and certain consultants that participate in the LIFE Offering would be subject to a four-month hold period pursuant to applicable policies of the TSXV.The Units sold pursuant to the LIFE Offering were offered in Canada 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 (the \"LIFE Exemption\").As consideration for services...