Mountain Valley MD Holdings Inc. provided update on Agrarius Trial Results. MVMD is a licensed reseller of Agrarius, a certified organic agricultural product, that when administered, is designed to activate a plants? ?defense mechanisms?

at the cellular level, without the actual stress factor. The intended effect of Agrarius is that treated plants grow deeper roots and open up their foliage to optimize the effect of photosynthesis, thus increasing growth hormones, plant efficiency for water use and nutrients, decreasing the requirement of fertilizer where used, and increasing overall resistance to diseases and stressed climate conditions. Agrarius has been tested across numerous major agricultural crops, and has demonstrated its ability to naturally increase crop yields from approximately 10% to 50% or more depending on crop type, reduce fertilizer usage where used by more than 30%, and increase general resilience to pests and climate change forces such as drought.

MVMD believes Agrarius presents a significant opportunity to support its growth objectives and is currently conducting business development activity in Mexico, Central America, South America, and the United States of America. The focus of the current business development activities has been to target large scale farming operations to induce trial activity on crops that would demonstrate the benefit to improving crop yields and overall plant health. There are currently more than 30 active crop trials being conducted by targeted large scale farming operations, which would represent a potential multi-million dollar field coverage pipeline if the clients were to purchase Agrarius product from the Company after successful trial completion and related government registrations that enable the sale of the product.

It is management?s view that the business development effort has been well received by the initial large scale farming operations the Company has been targeting and working with for trialing. Completed trials that have been documented through MVMD farming prospects and MVMD directly managed trials over the past year have exceeded management?s expectations. Beyond validating the anticipated yield improvements, the Company has seen the potential for unique pest and disease management applications as recently demonstrated in a trial conducted by a Valencia citrus producer, and verified by an independent laboratory that worked directly with the farm.

In what the Company believes could be a landmark trial, Agrarius has shown potentially promising results in mitigating Huanglongbing (HLB), a globally destructive citrus greening disease that is currently declared as incurable. Treated citrus trees exhibited notable recovery signs, including the emergence of healthy green foliage, abundant and large white flowers, and the production of spot-free, juicy Valencia oranges, with an anticipated overall yield increase of approximately 10%. The Agrarius test plot improved visual health indicators, and has also demonstrated an enhanced distribution of both macronutrients and micronutrients within the plant system.

The Company believes these findings to be materially significant and highlight Agrarius as a potential organic solution for citrus producers facing the impacts of HLB, with potentially the first viable method for revitalizing affected orchards and introducing sustainable disease management practices. The Company anticipates revenue from Agrarius sales activity in the 2024 calendar year based on the anticipated timing for registration approvals and logic of the crop trialing cycle during which farming organizations aim to personally validate on their respective farms the anticipated positive impact on crop yields and/or fertilizer reduction. The Company had anticipated sales activity to occur by the end of the calendar year 2023, however the Company is subject to the timelines associated with the registration process in each jurisdiction which are in part outside of the Company?s control.

Management does not anticipate any challenges to obtaining registrations at this time in its initial focus markets of Brazil, Panama, Colombia, Uruguay, Costa Rica, and Mexico. MVMD has hired key team members in South America who are familiar with local language, customs and trade requirements to support its agriculture line of business in Mexico, Central America and South America (LATAM), including in the areas of finance, operations, business development, and agronomy. The Company plans to operate its LATAM sales operations through subsidiaries, including in Panama, to facilitate the registration and distribution of the Agrarius product for sale in various jurisdictions.

The Company has also contracted the services of a Panamanian distribution company, the location providing for certain tax advantages, and has arranged the delivery of Agrarius product to support sales fulfillment in LATAM once registrations are completed in various jurisdictions over the coming months. The initial business development strategy of the Company in LATAM focused on Colombia, Brazil, Uruguay, Panama and Mexico, but has been expanding to meet the demand from interested parties, including to Costa Rica, Argentina and Bolivia. The Company believes that it has interested customers who have trialed the product and would be likely to proceed with product orders once registrations allow Agrarius to be broadly applied on their crops.

Agrarius is currently registered for sale in 41 states in the USA, with additional state approvals anticipated through the 2024 calendar year. As the LATAM registration process has been taking longer than anticipated by the Company, the Company has started a more concentrated effort on targeted sales activities in the USA in states in which registrations have already been obtained, including an immediate focus on citrus growers.