This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law and may not be offered or sold in the "United States", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.
VANCOUVER, BC, Dec. 22, 2020 /CNW/ - Mountain Valley MD Holdings Inc. (the "Company" or "MVMD") (CSE: MVMD) (FRA: 20MP) is pleased to announce that it has completed its previously announced strategic, non-brokered private placement offering (the "Offering") of units ("Units"), oversubscribing with gross proceeds of $4,323,199.74, issuing 19,650,908 Units. Each Unit is comprised of one common share ("Common Share") and one half of one share purchase warrant (each full warrant a "Warrant"), each Warrant exercisable for 24 months at an exercise price of $0.45 per share.
The net proceeds of the Offering will be used for advancement of formulation research and development, pre-clinical trials, patent management and general working capital purposes.
"The timing of our strategic investment capitalization and zero debt position places Mountain Valley MD in a tremendous position to advance our business and realize our impact on global human and animal health," stated Dennis Hancock, President and CEO of Mountain Valley MD. "Presenting over the past week to numerous identified strategic biotech and pharmaceutical investors has brought some significant partners into the fold who want to support our success. We believe this oversubscription represents the significant interest in our business by this industry."
In conjunction with the non-brokered Offering, the Company paid finder fees equal to 6% of the funds introduced by such finders, being $243,528, paid by the issuance of 1,106,945 Units at $0.22 per Unit. All securities issued pursuant to the Offering will be subject to a four-month hold expiring on April 22, 2021.
The Company also confirms the issuance of 6,617,185 Settlement Units to settle aggregate indebtedness of $469,820 (as previously disclosed and defined in the Company's news release dated December 14, 2020). All securities comprising the Settlement Units will be subject to a statutory four month hold period expiring on April 19, 2021.
For more details on this release, please click on the following video interview:
Digital Investor Awareness Program
The Company also announces that it has launched a 12-month digital investor awareness program through AGORACOM, a multifaceted digital platform operated by AGORA Internet Services Corp. ("AGORA"), in order to enhance information availability for current and future stakeholders. The Company has agreed to remunerate AGORA $60,000 plus taxes for the above mentioned services payable in quarterly installments at the end of March, June, September and December of 2021.
Payment will be made through the issuance of the Company's common shares with the number of common shares to be issued determined by using the closing price on the date of each quarter end. Common shares issued to AGORA under this agreement will be subject to a 4-month hold period.
ABOUT MOUNTAIN VALLEY MD HOLDINGS INC.
Mountain Valley MD is building a world-class biotech and life sciences company organization centered around the implementation of its patented Quicksometm oral drug formulation and delivery technologies to innovate industry leading products that are sought out globally.
MVMD's proposition for delivering Quicksometm 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 Quicksometm technology to its ground-breaking work for the oral 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 Quicksometm 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.
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 Offering and the engagement and remuneration of AGORACOM.
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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