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Good morning.  I am pleased to share some great progress around Mountain Valley MD’s first commercial revenues and a really exciting deal involving our property on Vancouver Island in British Columbia.
 
This morning we sent out a media release outlining some of the aspects of a multi-prong strategic agreement with Circadian Wellness Corp., a privately held Ontario corporation who is focused on the rapidly emerging global mushroom space.  Circadian is in the business of mushroom cultivation, extraction, clinical research and development, and end-user consumer health and wellness products and retreats.  You can learn more about Circadian on their website at www.circadianwellness.com.
 
This inroad into the rapidly growing mushroom industry timed with the broadening analyst coverage of the numerous scientific benefits of mushrooms on human health are expected to be significant for our business plan at Mountain Valley MD and the first revenues this early in our execution of the business is very promising and a strong validation of our Quicksome™ technology.
 
The deal we made with Circadian Wellness includes a $250,000 CAD advance payment to enter into a commercial license agreement to develop and apply our Quicksome™ technology to mushroom nutraceutical products, as well as a share purchase and exchange agreement for Circadian Wellness to acquire our wholly owned subsidiary Mountain Valley Medicinals Inc. (MVM) and its main asset being our property on Vancouver Island.  The MVM agreement was executed for $1,000,000 CAD is comprised of a combination of cash and a 9% equity stake in Circadian Wellness Corp.
 
As I outlined in the media release, we have been working closely with Circadian Wellness for several months on proprietary formulations for mushroom-infused products and we were able to achieve a significant increase in overall molecule efficacy with our Quicksome™ desiccated liposome technology applied across a variety of rapid dissolve oral products.  Circadian plans on bringing a broad line of naturally derived mushroom products to the global marketplace, with many of the extracts coming from the old growth forests found on the Vancouver Island property.
 
To support the property sale and related investment in Circadian, the Company contracted the International Society of Arboriculture and BC Forest Safety Council certified VI Tree Service to conduct an audit of the property ecosystem, including an extensive cataloguing of the numerous rare Douglas Fir trees located throughout the property.  Douglas Fir trees growing in the unique micro-climate on Vancouver Island are a known host for Agarikon mushroom which may be the longest living mushroom in the world and is commonly associated with significant anti-viral properties.  Circadian plans on inoculating the property with thousands of mushroom spores across numerous species as the foundation for its naturally derived mushroom health and wellness products, while planning for the property to become the cornerstone of a wellness retreat vision to capitalize on the land’s unique zoning.
 
The Chief Medical Officer at Circadian Wellness and founder of Peak Human Labs, Dr. Sanjeev Goel, is quoted in the media release with a strong affirmation of Quicksome™ and how it is impacting our nutraceutical product efficacy - “Our work with Mountain Valley MD’s Quicksome™️ technology has enabled us to achieve a significant increase in bioavailability, while using a fraction of the mushroom extraction of other formats we have worked with.”
 
Dr. Sanjeev is referencing a unique Quicksome™ cordyceps formulation created for Circadian where we were able to achieve the desired efficacy while using only 1/50th of a cordyceps mushroom extract that is comparably consumed orally via tincture.  Using a fraction of the extract has significant implications in the product cost and margin structure and is completely in line with our focus to provide our global nutraceutical, vaccine and pharmaceutical partners with unprecedented product and market advantages.
 
As an aside for those that are not aware of the rare cordyceps mushroom, it is known to increase the body's production of the molecule adenosine triphosphate (ATP), which is essential for delivering energy to the muscles and improving the way a human body uses oxygen, especially during exercise.  As you might imagine, this has been a very popular product sample request within Mountain Valley and Circadian due to its very discernable energy kick within minutes of being dissolved under the tongue!  We are really excited to support Circadian in bringing this energy product and many more naturally derived health and wellness mushroom products to the marketplace.
 
As always, I would encourage you to read the full media release on our company website - https://www.mountainvalleymd.com/investor.
 
We look forward to sharing some more positive updates around our work with Circadian Wellness in the near future.  Wishing you continued health and safety!


Sincerely yours, 

Dennis

Dennis Hancock
President & CEO
 
Mountain Valley MD
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