TORONTO, Dec. 07, 2022 (GLOBE NEWSWIRE) -- Mountain Valley MD Holdings Inc. (the “Company” or “MVMD”) (CSE: MVMD) (OTCQB: MVMDF) (FRA: 20MP) announces that it will redeem all issued and outstanding Class “B” Non-Voting Shares (the “Class B Shares”) of Mountain Valley MD Holdings Inc. (formerly Meadow Bay Gold Corp.). The Class B Shares are not listed for trading and are unrelated to the Company’s common shares, which trade on the Canadian Securities Exchange under the symbol “MVMD”. Background: On November 18, 2019, as announced at such time, and prior to the Company’s reverse takeover transaction in February 2020 (the “RTO”), the Company disposed of its shares of its subsidiary, Desert Hawk Resources Inc., to Casino Gold Corp (“Casino”). Casino issued 10,000,000 shares to the Company as payment. Thereafter, as a result of various business combinations and/or corporate actions completed by Casino or its affiliates, spin-offs or acquisitions, the Company received shares of 5 different public and private companies over time (the “Class B Investments”). Prior to the completion of the RTO, the Company authorized the Class B Shares and issued one Class B Share for each common share held by shareholders of the Company prior to the RTO. The Articles of the Company setting out the special rights and restrictions attached to the Class B Shares provide that if the following occurs, the Company will redeem all of the outstanding Class B shares for an amount equal to the redemption price (the proceeds of sale less third-party expenses, and less applicable withholding taxes): the Company decides, by way of a director’s resolution to distribute the Class B Investments; orthe Company completes the sale of all or any portion of the Class B Investments. The Company has recently disposed of the Class B Investments by way of private agreement as well as in the public market, receiving proceeds of approximately $1,798,000 (the “Proceeds of Sale”). The Company has initiated the process of distributing the proceeds to the holders of Class B Shares (which are limited to those shareholders of the Company [when it was Meadow Bay Gold Corp.] prior to the RTO). Procedure: Common shareholders of the Company are not affected by this transaction. In accordance with its Articles, the Company will redeem all Class B Shares on December 20, 2022 (the “Redemption Date”). The redemption price for the Class B Shares was calculated by dividing the Proceeds of Sale by the number of issued and outstanding Class B Shares, subject to taxes and adjustments for third party costs of the sale of the Class B Investments. Registered Holders: A notice of redemption has been sent to all registered Class B shareholders. In addition, a Letter of Transmittal has been sent to those registered Class B shareholders who hold physical certificates (versus DRS). Registered Class B shareholders who hold physical certificates will have to return a completed the signed Letter of Transmittal to Odyssey Trust Company (“Odyssey”), the Company’s transfer agent. Upon the return of the Letter of Transmittal if applicable, payment of the redemption amount will be sent by cheque to registered Class B shareholders. If such Class B holders have questions, these can be directed to Odyssey. Beneficial Holders: For those holders who hold the Class B Shares in "book-entry only" form and with CDS Clearing and Depository Services Inc. (“CDS”), beneficial holders of Class B Shares will receive payment electronically via CDS. If such Class B holders have questions, these can be directed to their broker, dealer, bank, trust company or other nominee. ABOUT MOUNTAIN VALLEY MD HOLDINGS INC. Mountain Valley MD is building a world-class organization centered around the implementation, licensing and reselling of key technologies and formulations: patented Quicksome™ oral formulation and delivery technologies,patented Quicksol™ solubility formulation technologylicensed product reseller of Agrarius™, a novel agricultural plant signalling technology Consistent with its vision towards “More Life”, MVMD applies its owned and licensed technologies to its work for advanced delivery of molecules for human and husbandry animal applications, including the development of products for pain management, weight loss, energy, focus, sleep, anxiety, and more. Additionally, MVMD’s work with Agrarius is focused on generating a positive impact on crop yields and reducing fertilizer usage. MVMD’s patented Quicksome™ technology utilizes proprietary formulations and stabilizing molecules to encapsulate and formulate active ingredients into highly efficient product formats. The result is a new generation of product formulations that could be capable of delivering nutraceutical and drug molecules into the body faster, with greater impact, efficiency and accuracy. MVMD’s patented Quicksol™ technology covers all highly solubilized macrocyclic lactones that could be effectively applied in multiple viral applications that could positively impact human and animal health globally. MVMD’s licensed Agrairus™ agricultural plant signalling technology that could be capable of application to agricultural crops to naturally increase yields, reduce fertilizer usage, and increase general resilience to pests and climate change. For more Company information and contact details, visit www.MVMD.com.SOURCE: Mountain Valley MD Holdings Inc. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information.
The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company. The Company is making forward-looking statements with respect to, including but not limited to, the redemption of the Class B shares, including regarding procedure, timing, and redemption amount. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation. Neither the CSE nor OTC has reviewed or approved the contents of this press release.
Braxia Health clinic ketamine treatments up 34.5% YoY in Q2 2023 and revenue up 18% YoY
Expanded clinic capacity with new, state-of-the-art clinic opened in Ottawa
Closed acquisition of KetaMD and launched new ketamine telemedicine platform in Florida
TORONTO, Nov. 29, 2022 /PRNewswire/ - Braxia Scientific Corp. ("Braxia Scientific", or the "Company"), (CSE: BRAX) (OTC: BRAXF) (FWB: 4960), a medical research and telemedicine company with clinics providing innovative ketamine and psilocybin treatments for depression and related disorders, today announced the filing of its financial statements and management discussion and analysis for the second quarter ended September 30, 2022. Complete financial statements along with related management discussion and analysis can be found in the System for Electronic Document Analysis and Retrieval (SEDAR), the electronic filing system for the disclosure documents of issuers across Canada, at .
"We are executing on our vision to increase access to novel treatments such as Ketamine and Psilocybin to address mental health disorders such as depression, anxiety, bipolar disorder and post-traumatic stress disorder (PTSD)," said Dr. Roger McIntyre, CEO, Braxia Scientific. "We have invested in expanding capacity and technology across our clinical footprint to support implementation of ketamine and psilocybin treatment programs, provide best-in-class patient experience and address increasing demand. Our U.S. telemedicine platform, KetaMD, is providing access to safe, virtually guided at-home ketamine treatments in Florida where 2.9 million adults have a mental health condition."
"As we move forward in 2023, Braxia's growth initiatives are driven by our established clinical infrastructure, a U.S. telemedicine platform, ongoing clinical trials and human capital leading the industry in clinical research and best practices with 45 Braxia management-led publications to date. As we continue to build on our core strengths and priorities, we are evaluating strategic capital market opportunities to create shareholder value."
Corporate Update and Recent Highlights
Braxia Health Clinics
Clinical Ketamine Treatment Program
Braxia Health clinics are comprised of a unique network of physicians, specialists and researchers delivering innovative, rapid acting treatments like intravenous (IV) and oral ketamine, and psilocybin for treatment resistant depression (TRD) and other mental health disorders. The high quality and timely access to innovative treatment is the differentiating factor allowing Braxia to expand its footprint rapidly and diversify its offering into experimental therapeutic clinical research programs.
During the quarter, Braxia Health clinics continued to steadily grow its ketamine program referral network across 5 cities. The Company has made progress on expanding the capacity of its clinic footprint completing the buildout of its new clinic in Ottawa and continues to build out its newest flagship Toronto clinic. The new clinic commenced ramping operations, including adding specialized nursing, medical and psychiatry personnel late October and delivered initial treatments in November. Additionally, the Company invested in establishing a new technology platform across its clinical platform that will provide implementation capabilities for increasing in person treatments and virtual treatments, while also driving efficiencies and an enhanced patient experience. Technology systems in place also support critical data collection and data mining capabilities from treatments delivered to date and ongoing clinical trials. With the increased capacity, Braxia health is also working to expand capacity to support increased volumes for ketamine and psilocybin treatments, as the research team prepares to launch new clinical trials in the coming months.
Psilocybin-Assisted Therapy Treatment Programs
Braxia Health is pleased to have received several approvals to provide psilocybin therapy through the federally approved Special Access Program (SAP). Braxia is now accepting referrals for psilocybin therapy following the implementation of a streamlined process to allow for improved efficiencies in applying through the SAP and providing this treatment in Braxia clinics. Three clinics are now set up to provide psilocybin therapy with specially designed psilocybin dosing rooms in Toronto, Mississauga and Ottawa. This infrastructure will serve the SAP treatments and psychedelic clinical trials at Braxia.
Braxia Health's research team completed enrollment of its final participant for Braxia's first psilocybin trial, with trial expected to be completed before May 2023. Braxia progressed the first Phase II randomized Health Canada approved multi-dose psilocybin trial, approved July 2021 and launched November 2021.
Following the preliminary positive results reported earlier this year, the Braxia team reported meaningful improvements in depression severity observed (as measured by the Montgomery-Åsberg depression rating scale, MADRS). These preliminary findings have been reported in numerous peer reviewed abstracts at local, national and international conferences including the Global Psychedelic Summit, Canadian Psychiatric Association and American College of Neuropsychopharmacology. A novel finding from this study has been accepted for publication in the American Journal of Psychiatry.
The Company expects to launch additional psilocybin-assisted trials in the coming quarters across multiple diagnostic categories.
Braxia management also continued its Psilocybin Therapy Training Program with the first cohort successfully graduating independently licensed multidisciplinary therapists from diverse training programs (family medicine, psychiatry, psychotherapy, spiritual care, social work, nursing). A second cohort completed enrollment in the training program with graduation anticipated for late 2023. These therapists will provide psilocybin therapy within Braxia's current and future clinical trials along with increasing SAP patient treatments.
These clinical research initiatives present multiple opportunities for future revenue generation. It is anticipated that no near-term revenue will be generated from these clinical research initiatives.
KetaMD (U.S.) – Providing Ketamine for Depression, Anxiety, PTSD and Bipolar Disorder
The Company is dedicated to increasing widespread access to ketamine treatment for depression, anxiety, post-traumatic stress disorder, and other mental health challenges through KetaMD's safe, convenient, and HIPAA-compliant telemedicine platform.
During the quarter, Braxia closed its acquisition of KetaMD and launched its end-to-end telemedicine platform in Florida. KetaMD utilizes leading digital and mobile technology to provide safe, affordable, and potentially life-changing at-home ketamine treatments for people suffering from depression and related mental health conditions. People who are deemed eligible by one of KetaMD's licensed Florida healthcare practitioners, receive medically supervised treatments, guided virtually by registered nurses with mental health expertise and best practices protocols as published in the American Journal of Psychiatry by Braxia management.
Q2 2023 Financial Summary
Q2 2023 in-clinic treatments increased 34.5% year-over-year. In first 6 months of 2023, in-clinic treatments increased 35% compared to the prior year period.
During the quarter, the Company acquired KetaMD which launched an initial pilot of its virtual ketamine treatments late in the quarter. The Company expects KetaMD's revenues and profitability to increase as services and operations ramp up services, marketing and forge new clinical partnerships.
Q2 2023 revenue increased 18% year-over-year to $0.46 million for the period ending September 30, 2022.
In first six months of 2023, revenues increased 10.1% to $0.87 million compared to prior year period.
Net loss was $2.2 million for Q2 2023 ended September 30, 2022, compared to a net loss of $1.7 million for the three months ended September 30, 2021. Net loss during the quarter includes non-cash share-based compensation of $0.38 million and $0.25 million from the fair value change of convertible debenture pursuant to the acquisition of KetaMD.
In first six months of 2023, net loss was $3.1 million compared to a net loss of $2.8 million in the prior year period. Net loss includes non-cash share-based compensation of $0.6 million.
As at September 30, 2022, the Company's cash and cash equivalents were $5.2 million and working capital was $2.32 million.
The Company is in discussions with various parties to explore sources of funding and partnerships to further its growth initiatives, including the expansion of KetaMD.
About Braxia Scientific Corp.
Braxia Scientific is a medical research and telemedicine company with clinics that provide innovative ketamine treatments for persons with depression and related disorders. Braxia also launched its U.S. based end-to-end telemedicine platform KetaMD, that utilizes leading technology to provide access to safe, affordable, and potentially life-changing at-home ketamine treatments for people living with depression and related mental health conditions. Through its medical solutions, Braxia aims to reduce the illness burden of brain-based disorders, such as major depressive disorder among others. Braxia is primarily focused on (i) owning and operating multidisciplinary clinics, providing treatments in-person and virtually for mental health disorders, and (ii) research activities related to discovering and commercializing novel drugs and delivery methods. Braxia seeks to develop ketamine and derivatives and other psychedelic products from its IP development platform. Through its wholly owned subsidiary, Braxia Health (formerly the Canadian Rapid Treatment Center of Excellence Inc.), operates multidisciplinary community-based clinics offering rapid-acting treatments for depression located in Mississauga, Toronto, Kitchener-Waterloo, Ottawa, and Montreal.
ON BEHALF OF THE BOARD
"Dr. Roger S. McIntyre"
Dr. Roger S. McIntyre
Chairman & CEO
The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Forward-looking Information Cautionary Statement
This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance are "forward-looking statements."
Forward-looking statements include statements about the intended promise of ketamine-based treatments for depression, the potential for ketamine or other psychedelics to treat other mental health conditions, the integration plans for Braxia and KetaMD, the intention to conduct further clinical trials, the expected growth of at-home telemedicine, the expected benefit and synergies of Braxia and KetaMD and the expectation to expand to areas other than Florida. Such forward- looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events, or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the failure of ketamine, psilocybin and other psychedelics to provide the expected health benefits and unanticipated side effects, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, municipal, local or other licenses and engaging in activities that could be later determined to be illegal under domestic or international laws. Ketamine and psilocybin are currently Schedule I and Schedule III controlled substances, respectively, under the Controlled Drugs and Substances Act, S.C. 1996, c. 19 (the "CDSA") and it is a criminal offence to possess such substances under the CDSA without a prescription or a legal exemption. Health Canada has not approved psilocybin as a drug for any indication, however ketamine is a legally permissible medication for the treatment of certain psychological conditions. It is illegal to possess such substances in Canada without a prescription.
These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements.
Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, including the Amended and Restated Listing Statement dated April 15, 2021 and its most recent MD&A, which are available at . There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements.
SOURCE Braxia Scientific Corp.
TORONTO, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Mountain Valley MD Holdings Inc. (the “Company” or “MVMD”) (CSE: MVMD) (OTCQB: MVMDF) (FRA: 20MP) is pleased to provide a business update and details of its current commercialization strategy. MVMD is an early-stage biotech business which, since inception, has focused its resources on investing in multiple research and development (“R&D”) initiatives. The Company is pleased to confirm that it has shifted focus to the commercialization strategy for those of its projects and technologies that it believes will best provide viable revenue streams for long-term company health and shareholder value. There are three primary lines of business MVMD is currently working towards commercial advancement in: (1) novel innovations that improve the administration and efficacy of nutraceutical health and wellness products; (2) agricultural plant signaling technology that organically drives increases in crop yields and supports the reduction of fertilizer usage; and (3) the application of solubilized drugs to positively impact husbandry animal health. “This is a significant milestone for MVMD as we transition from an R&D-focused biotech start-up business into a commercially focused biotech entity with revenue-generating activities,” stated Dennis Hancock, President & CEO of MVMD. “We believe we have identified a great pathway to generate positive cashflow as early as the 2023 calendar year that will support our goal to create shareholder value. I believe this next phase of growth for MVMD will be an exciting validation of our progress.” In support of its commercialization efforts, MVMD holds a license from Agrarius Corp. for the rights to distribute its Agrarius plant signaling technology, and currently has two wholly owned technologies; a) patented Quicksome™ molecule formulation and delivery technology, and b) patented Quicksol™ solubility formulation and delivery technology. LINE OF BUSINESS UPDATES: Nutraceuticals As previously disclosed, following evaluations of North American GMP manufacturing options for MVMD’s nutraceutical product strategy, the Company entered into a license agreement with its selected third-party lead production partner in the United States. The Company strategically secured its lead manufacturing partner as a licensee, who will in turn produce nutraceutical products based on, or embodying, MVMD’s proprietary technologies for third parties, who will then be approved by MVMD and who will have an agreement with Company. The Company believes this strategy will help to ensure product quality, support the ability to scale production, streamline the audit process for royalty agreements, and provide the necessary protection of its technology and trade secrets, versus having numerous licensed partners, each replicating the manufacturing process for their own products. Securing the lead manufacturer and finalizing the scaled GMP production environment aligns with MVMD’s anticipated increased business development efforts and the Company’s plans to secure additional nutraceutical licensing partnerships for production in the 2023 calendar year. This timeline has been updated from the anticipated late 2022 date due to the licensed third-party lead production partner’s current process to establish a scaled GMP production line capable of larger volume outputs, including the installation of equipment to support the required manufacturing process that embeds MVMD’s Quicksome™ formulation approach. MVMD’s production partner has been working to support the Company’s license agreement with Circadian Wellness Corp. (“Circadian”) by way of finalizing the proprietary formulations for mushroom-infused products Circadian intends to market under its Eons brand. Circadian’s license from MVMD supports the desire to achieve an increase in overall molecule efficacy with the Company’s Quicksome™ technology applied across a variety of rapid dissolve sublingual and dermal products in the functional mushroom space. The initial product formulation work and dissolution testing has been positive in MVMD’s view. In early November, Circadian launched its initial products in the nutraceutical space for the United States market: a mushroom infused “smart coffee” and a chewable gummy product designed to aid in sleep. The focus in the next product phase for the Eons brand is mushroom-infused sublingual sleep and energy products and a pain management cream that embodies MVMD’s technology. Although outside of MVMD’s control, it is anticipated that Circadian will be introducing consumer products that embody MVMD’s technology under its Eons brand for sale in the United States in the first half of the 2023 calendar year. Agriculture In September 2022, the Company announced the initiation of commercial sales activity and related business development investments to support in-field trialing of Agrarius, a certified organic product owned by Agrarius Corp. (“AC”). AC isa private US corporation in which the Company holds an equity interest and from which it has licensed certain rights regarding the distribution of AC’s product, Agrarius . The Agrarius product is delivered in a liquid concentrate form that gets mixed with water at the point of application and then applied via sprayer to agricultural crop plants ideally twice during a plant’s lifecycle. Agrarius has been tested across numerous major agricultural crops and has demonstrated its ability to naturally increase crop yields from approximately ten to fifty percent or more depending on crop type, reduce fertilizer usage by more than thirty percent, and increase general resilience to pests and climate change forces such as drought. “We believe Agrarius presents a significant opportunity to support MVMD’s growth objectives given the rapidly changing global agricultural landscape,” continued Mr. Hancock. “With the significant global agricultural pressures we are seeing with mass fertilizer shortages, unprecedented climate change impact, and the urban sprawl limiting available farmlands, we believe we are in the perfect place to positively help address some of the key global food supply issues.” The Agrarius product works by activating the plants’ “defense mechanisms” at the cellular level, without the actual stress factor. The intended effect of Agrarius is that treated plants grow deeper roots and open up their foliage to optimize the effect of photosynthesis, thus increasing growth hormones, plant efficiency for water use and nutrients, decreasing the requirement of fertilizer where used, and increasing overall resistance to diseases and stressed climate conditions. Agrarius technology enables direct plant communication by mimicking naturally occurring organic molecules that correspond to various plant survival instincts, which improves the natural defense mechanisms of the plant to overcome environmental stresses. Agrarius works by sending signals that a plant understands and propagates through its roots and mycelial networks, allowing nearby plants to benefit from the signals naturally while reducing the actual amount of product that is used on a field. These signals literally send information that stimulates plant growth, subsequently increasing yields, volatility resistance, and growth speeds. By virtue of its arrangement, MVMD is an authorized reseller of Agrarius products and has commenced business development activity with large scale farming operations to induce trial activity on crops that would demonstrate the benefit to improving crop yields and the corresponding reduction in fertilizer usage where used in the specific farming operation. Additionally, the Company is working through a strategy of targeting large food supply businesses where significant purchasing power of agricultural products exists. The Company anticipates revenue from Agrarius sales activity in the 2023 calendar year related to the crop trialing cycle, whereby farming organizations would personally validate the anticipated positive impact on their crop yields and/or fertilizer reduction after it has been trialed on their farm. Revenue and the related ramp-up of sales growth in many cases is anticipated to take one full crop cycle. The Company currently facilitates Agrarius product information and product trialing and order flow through its wholly owned and developed website IncreaseCropYields.com, including translation for Spanish and Portuguese languages. The website presents product benefits, enables clients to calculate crop-specific ROI and facilitates product trialing and purchase processes. Husbandry Animals / Aquatic Species As previously disclosed, the Company has applied its Quicksol™ technology to the drug ivermectin and believes a more solubilized format versus current in-market products would have novel applications across the broad husbandry animal and aquatic species marketplace. The Company’s overall husbandry and aquatic species strategy was to develop its scientific assets with a view to licensing to third parties. Subject to final legal review and the Company’s execution of the final licensing agreement, MVMD has finalized the framework negotiations with a third party for licensing of its Soluvec™ 1% product to pursue sales in the husbandry and aquatic species marketplace inside Bangladesh. Related to the framework agreement and necessary government approvals, the pharmacokinetic trials conducted inside Bangladesh across husbandry and aquatic species categories have been completed by a third-party Contract Research Organization (CRO) and MVMD believes the results of these trials will positively support the value proposition necessary to secure necessary government approvals to commercialize inside Bangladesh in the 2023 calendar year. Management believes that commercialization of Soluvec™ 1% inside Bangladesh by the licensee will commence in the first half of the 2023 calendar year, provided the Company’s final legal review and execution of the final licensing agreement is complete. Currently, the Company is also in negotiations with a third party for licensing of its Soluvec™ 1% product worldwide (excluding Bangladesh) to further develop, produce, distribute and sell Soluvec™ 1%, or products embodying the Soluvec™ 1% technology, in the husbandry and aquatic species marketplace. The licensee would also service the production and supply of product to support the Bangladesh license agreement described above. Management believes that this is in line with its manufacturing approach to nutraceuticals, to engage with a limited number of licensees that will be able to produce/commercialize products embodying the Company’s technology, with the aim of allowing for greater protection of MVMD’s intellectual property as well as greater ease in managing licensees and resulting revenue streams. Red White and Bloom Brands In November 2021, the Company entered into an agreement with Red White and Bloom Brands Inc. (“RWB”), a publicly traded company that operates in the cannabis space in the United States. The agreement has been amended to be non-exclusive as RWB is evaluating its skew and product approach going forward and is uncertain at this point in time if RWB will expand their skew line to include MVMD’s technology. The original agreement established the terms upon which the Company’s Quicksome™ technology and novel solubilization techniques could be applied by RWB to various product applications in the space that they operate in. The Company has no immediate control of the decisions made by RWB that would bring any products with MVMD’s technology to market and is not actively pursuing any product applications in the cannabis space at this time. The decision and agreement to change the arrangement to a non-exclusive would allow MVMD to benefit from the arrangement in the future but not limit MVMD's ability to benefit from a similar arrangement with third parties. Research and Development In line with the commercialization phase described above, MVMD is shifting to a more traditional use of capital aligned to revenue growth activities. The Company will continue to assess the ability, viability, and desire to continue to develop its other projects and pre-clinical R&D work, however R&D expenditures are anticipated to be more narrowly focused on business expansion within the above three commercialization focus areas of the business, namely (1) Nutraceuticals, (2) Agricultural, and (3) Husbandry Animals. ABOUT MOUNTAIN VALLEY MD HOLDINGS INC. Mountain Valley MD is building a world-class organization centered around the implementation, licensing and reselling of key technologies and formulations: patented Quicksome™ oral formulation and delivery technologies,patented Quicksol™ solubility formulation technologylicensed product reseller of Agrarius™, a novel agricultural plant signalling technology Consistent with its vision towards “More Life”, MVMD applies its owned and licensed technologies to its work for advanced delivery of molecules for human and husbandry animal applications, including the development of products for pain management, weight loss, energy, focus, sleep, anxiety, and more. Additionally, MVMD’s work with Agrarius is focused on generating a positive impact on crop yields and reducing fertilizer usage. MVMD’s patented Quicksome™ technology utilizes proprietary formulations and stabilizing molecules to encapsulate and formulate active ingredients into highly efficient product formats. The result is a new generation of product formulations that could be capable of delivering nutraceutical and drug molecules into the body faster, with greater impact, efficiency and accuracy. MVMD’s patented Quicksol™ technology covers all highly solubilized macrocyclic lactones that could be effectively applied in multiple viral applications that could positively impact human and animal health globally. MVMD’s licensed Agrairus™ agricultural plant signalling technology that could be capable of application to agricultural crops to naturally increase yields, reduce fertilizer usage, and increase general resilience to pests and climate change. For more Company information and contact details, visit www.MVMD.com.SOURCE: Mountain Valley MD Holdings Inc. www.MVMD.com CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company. The Company is making forward-looking statements, including but not limited to: the transition from an R&D phase to a commercialization phase of the Company’s business; the three (3) business areas of focus selected for the commercialization phase currently; the impact of the foregoing, including that these areas will best provide viable revenue streams for long-term company health and shareholder value; the ability and timing with respect to the generation of revenues; the commercialization phase being a validation of the Company’s progress; the use of a third party—lead production partner for its nutraceuticals business, the involvement of third parties and the direct agreements of such third parties with the Company, and the result of the approach being the protection of MVMD’s intellectual property, the ability to scale production, the positive impact on product quality, and the streamlining of the audit process for royalty agreements; the Company’s business development plans and goals to secure additional nutraceutical partnerships in the 2023 fiscal year; the production of consumer goods by Circadian embodying MVMD’s technology under its Eons brand, and the location and timing of such production and sales; the licensing and distribution by MVMD of Agrarius product and the relationship between such parties, and all matters related thereto, including but not limited to timing and business development efforts and details; the anticipated timing of revenues arising from Agrarius and the connection to the crop trialing cycle; the license arrangement between the Company and a third party with respect to its Quicksol™ technology in Bangladesh and all matters related thereto, including but not limited to the anticipating timing of commercialization; the anticipated arrangement with a third party regarding the development, production distribution and sale of its Soluvec™ product worldwide (excluding Bangladesh), and related matters, including but not limited to the ability of such third party to support the agreement with the third party in Bangladesh, and the impact of such an agreement, including it resulting in greater protection of MVMD”s intellectual property and greater easy in managing licensees and resulting revenue streams; MVMD”s agreement and future arrangement with RWB and the impact on MVMD of the amendment to a non-exclusive arrangement; the continued assessment of the Company’s ability, viability and desire to continue to develop its other projects and pre-clinical R&D work; and the focus of expenditures on the three (3) selected areas of business. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation. Neither the CSE nor OTC has reviewed or approved the contents of this press release.