31 August 2026, Canada: MustGrow Biologics Corp. (TSXV:MGRO) (OTC:MGROF) (FRA: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 and six months ended June 30, 2026. For complete details, please refer to the condensed interim financial statements for the three and six months ended June 30, 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 Q2-2026:
TerraSanteTM sales revenue of $75,000 in Q2-2026 vs. $313,000 in Q2-2025
TerraSanteTM gross margin was nil due to costly air freight transportation for timely delivery of product1
Licensing revenue of $1.4 million recognized in Q2-2026
Expenses from continuing operations2 of $0.9 million in Q2-2026 and $0.9 million in Q2-2025
Net profit from continuing operations2 of $0.4 million in Q2-2026 vs. a net loss from continuing operations2 of $0.9 million in Q2-2025
Cash and equivalents on hand as at June 30, 2026 was $4.4 million, with working capital of $5.2 million
As of August 15, 2026, year-to-date sales of TerraSanteTM are $0.9 million, up over 46% compared to all sales in the financial year ended December 31, 2025
“The second quarter of 2026 was a key transition period for our contract production manufacturers and we also recognized an important licensing revenue milestone of approximately $1.4 million. Sales of TerraSanteTM were lower than product demand, since our contract manufacturers were commissioning the production lines of new equipment to increase capacity,” commented Corey Giasson, President and CEO of MustGrow. “We are anticipating strong sales growth to continue for the remainer of 2026 and into 2027 as a contract manufactures produce at higher rates and to obtain stronger margins as we move from costly air freight, to ensure timely product delivery, to much more economic ocean freight. As MustGrow transitions from market launch to commercial scaling, we are fortunate to have contract manufacturing partners investing capital in equipment to provide us with dedicated production lines. Our confidence remains high as we will continue to work with our contract manufactures to provide timely product to meet the growing demand for TerraSanteTM in the U.S. and potentially other countries around the world.”
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