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An announcement from MustGrow Biologics ( (TSE:MGRO) ) is now available.
MustGrow Biologics has closed a non-brokered listed issuer financing exemption private placement, raising $2 million through the sale of 4 million units at $0.50 each, with each unit comprising one common share and one five-year warrant exercisable at $0.70. The funds will be directed toward inventory production of its mustard-derived organic biofertility product TerraSante, inventory to support sales via its Canadian distribution platform NexusBioAg, and general working capital, reinforcing the company’s commercial rollout and product availability in sustainable agriculture markets, subject to final TSX Venture Exchange approval.
The most recent analyst rating on (TSE:MGRO) stock is a Hold with a C$0.68 price target. To see the full list of analyst forecasts on MustGrow Biologics stock, see the TSE:MGRO Stock Forecast page.
Spark’s Take on TSE:MGRO Stock
According to Spark, TipRanks’ AI Analyst, TSE:MGRO is a Neutral.
The score is held back primarily by weak financial performance (deep losses, margin compression, and negative operating/free cash flow), partially offset by improving near-term technical momentum (price above key shorter-term averages and positive MACD). Valuation remains challenged due to negative earnings and no dividend support.
To see Spark’s full report on TSE:MGRO stock, click here.
More about MustGrow Biologics
MustGrow Biologics Corp. is a publicly traded provider of biological and regenerative agriculture solutions focused on sustainable farming. The company offers proprietary mustard-derived biocontrol and biofertility products as eco-friendly alternatives to restricted synthetic chemicals and fertilizers, alongside a portfolio of third-party crop nutrition products in North America, distributed through its NexusBioAg platform. Internationally, MustGrow partners with major agriculture firms such as Bayer AG to commercialize its technologies, supported by an intellectual property portfolio of roughly 110 issued and pending patents.
Average Trading Volume: 43,141
Technical Sentiment Signal: Hold
Current Market Cap: C$37.67M
For detailed information about MGRO stock, go to TipRanks’ Stock Analysis page.