Mountain Valley MD Holdings Announces Stock Option Grant and Warrant Exercise Update
TORONTO, Feb. 16, 2021 /CNW/ - Mountain Valley MD Holdings Inc. (the "Company" or "MVMD") (CSE: MVMD) (FRA: 20MP) (OTCQB: MVMDF) announces that pursuant to the Company's Stock Option Plan, an aggregate of 2,625,000 options have been granted to certain directors, officers, employees and consultants as incentive stock options at an exercise price of $2.04 per share. The options are exercisable for a period of five years, 20% vesting on the date of grant, 30% on the 6-month anniversary following the date of grant and the remaining 50% on the 12-month anniversary following the date of grant.
"The stock option plan is a great tool for MVMD to incent key team members for the extraordinary effort needed to achieve the pace and scale of our business plan, while fully aligning with our objective to create long-term shareholder value with reduced cash compensation requirements," stated Dennis Hancock, President and CEO of Mountain Valley MD.
Warrant Exercise Update
The Company also announces that it has continued to receive exercises of warrants from its shareholders. Since the Company's news release dated January 11, 2021 and up to February 11, 2021, 26,421,592 additional warrants were exercised for gross proceeds of approximately $9,247,557, for combined total gross proceeds of approximately $10,641,456. The significant majority of the balance of the Company's warrants are scheduled to expire during the 2021 calendar year, with the majority of those expiring on February 21, 2021. All exercises will be disclosed ongoing in the Company's financial statements and related disclosure documents.
"It is great to see many of our original founding investors exercising their warrants and validating their confidence in MVMD's pursuit to dramatically impact the global human and animal health landscape," continued Hancock. "Mountain Valley MD has zero debt and an incredibly strong cash position that will enable us to focus on the execution of our business plan without any financial distractions."
ABOUT MOUNTAIN VALLEY MD HOLDINGS INC.
Mountain Valley MD is building a world-class biotech and life sciences company organization centred around the implementation of its patented Quicksome™ oral drug formulation and delivery technologies and its Quicksol™ solubilization technology for macrocyclic lactones, to innovate industry leading products that are sought out globally.
MVMD's proposition for delivering Quicksome™ formulations that have rapid onset, high bioavailability, low variability and precision dosing is core to the Company's success across key health and wellness categories. Consistent with its vision towards "Helping People Live Their Best Life", MVMD applies its Quicksome™ and Quicksol™ technologies to its ground-breaking work for advanced delivery of vaccines and pharmaceutical drugs as well as the development of products for pain management, weight loss, energy, focus, sleep, anxiety, and more.
The Company's patented Quicksome™ desiccation technology utilizes advanced liposomes and other stabilizing molecules to encapsulate and formulate active ingredients into highly efficient product formats that are consumed orally. The result is a new generation of product formulations that are capable of delivering vaccines, drugs and nutraceuticals into the body faster, with greater impact, efficiency and accuracy. The Company's patented Quicksol™ solubilization technology covers all highly solubilized macrocyclic lactones (including the drugs Ivermectin and Selamectin). MVMD's solubility technology applied to the Ivermectin drug is the only form in the world that only uses excipients that are currently approved by the US Food and Drug Administration (FDA), making it a leading candidate for human injection and sublingual applications as well as significantly broader husbandry and companion animal treatments based on its low viscosity.
For more Company information and contact details, visit www.mountainvalleymd.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 with respect to the exercise of unexpired warrants.
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.
SOURCE Mountain Valley MD Holdings Inc.
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