MustGrow Secures $2 Million Line of Credit with CIBC; Guaranteed by EDC

Core Viewpoint - MustGrow Biologics Corp. has secured a $2 million line of credit with CIBC, guaranteed by EDC, to support the production of its organic biofertility product TerraSanteTM and working capital for its Canadian operations [1][2][3]. Financial Details - The line of credit carries an interest rate of Canada's prime rate plus 1.00%, with the current prime rate at 4.95% [3]. - The company aims to increase the line of credit size to meet the growing demand for TerraSanteTM in the U.S. [3]. Product and Market Demand - There is significant uptake of TerraSanteTM from large U.S. commercial farming operations, validating its effectiveness and economic viability [4]. - The funding will enable MustGrow to build inventory to meet increasing U.S. demand and support its Canadian sales and distribution division, NexusBioAg [2][4]. Company Overview - MustGrow Biologics Corp. provides innovative biological and regenerative agriculture solutions, focusing on eco-friendly alternatives to synthetic chemicals and fertilizers [4]. - The company has a portfolio of approximately 109 patents and collaborates with agriculture companies like Bayer AG for commercialization outside North America [4].