TORONTO, Jan. 28, 2022 (GLOBE NEWSWIRE) -- Mountain Valley MD Holdings Inc. (the “Company” or “MVMD”) (CSE: MVMD) (OTCQX: MVMDF) (FRA: 20MP) announces the adoption of a restricted share unit plan (the "RSU Plan"), a grant of restricted share units pursuant to the RSU Plan (each, an "RSU") and the grant of stock options pursuant to its existing stock option plan (the “Stock Option Plan”).
“We continue to leverage option and share-based compensation levers in an effort to fully align our team’s efforts on our specific business outcomes and our overall objective of creating long term shareholder value,” stated Dennis Hancock, President and CEO of MVMD. “2022 is a very important year for MVMD. The opportunity for our team members to have ownership in the company is a significant way to reward the extraordinary work effort that comes within a biotech startup culture and aids in preserving cash expenditures.”
RSU Plan
The Board of Directors of the Company (the “Board”) has approved the implementation of the RSU Plan to supplement the Stock Option Plan. Pursuant to the RSU Plan, the Board may grant RSUs to eligible persons, with vesting provisions also to be determined by the Board and based on time and/or performance measures and subject to a maximum vesting term of three (3) years from the end of the calendar year with respect to which the RSUs were granted. Upon vesting, RSUs may be settled by a payment of cash, common shares of the Company, or a combination of both, at the discretion of the Company.
RSU and Option Grants
The Board has granted to certain directors, officers, and consultants an aggregate of 875,000 RSUs. The vesting of the RSUs is based on performance measures such that certain milestones must be achieved by December 31, 2022, in order for the RSUs to vest. If the milestones have been achieved, in whole or in part, all or a portion of the RSUs will vest on January 31, 2023.
In addition, the Board granted 2,525,000 stock options (the “Options”) to certain directors, officers, consultants and advisors. The Options vest 20% on the date of grant, 30% on the 6-month anniversary of the date of grant and 50% on the one-year anniversary of the date of grant. The Options have a term of 5 years and are exercisable at $0.22 per share.
ABOUT MOUNTAIN VALLEY MD HOLDINGS INC.
Mountain Valley MD is building a world-class organization centered around the implementation and licensing of its key technologies to global pharmaceutical, vaccine and nutraceutical third parties:
- patented Quicksome™ oral drug formulation and delivery technologies,
- patented Quicksol™ solubility formulation technology
Consistent with its vision towards “More Life”, MVMD applies its Quicksome™ and Quicksol™ technologies to its 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.
MVMD’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 could be capable of delivering vaccines, drugs and nutraceuticals 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.
For more Company information and contact details, visit www.mountainvalleymd.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, including but not limited to with respect to various matters related to the Agreement, including: the administration of the RSU Plan; the terms associated with the RSUs, including in particular the vesting terms; and the terms associated with the grant of the Options.
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.
