Mountain Valley MD Holdings Inc. announced, further to its news release dated September 29, 2021, that Mountain Valley MD Inc. has entered into a Product Development and Commercial Licensing Agreement (the “Agreement”) with Red White & Bloom Brands Inc. (“RWB”), a publicly traded multi-state cannabis operator and house of premium brands that are available across the cannabis market in the United States. The Agreement establishes the terms upon which Mountain Valley will develop and license formulas using MVMD's Quicksome™ technology and novel cannabinoid solubilization techniques to be applied by RWB to various cannabis product applications. The Agreement grants RWB an exclusive 5-year license in Florida, Michigan and California to manufacture and distribute its cannabis products in exchange for the payment of product fees and ongoing sales royalties.

The MVMD team have been working closely with RWB to apply proprietary formulations across a number of branded Medical and Rec product lines. The MVMD Quicksome™ sublingual applications, include a proprietary THC-based sleep formulation created for RWB, which is planned to be the initial product that RWB will introduce in the medical sleep market in the United States. The Company is currently finalizing a patent for submission to the United States Patent Trademark Office (USPTO) to protect its cannabinoid solubilization work, which it believes will be a cornerstone for many unique product formulations in the cannabis marketplace.