On December 22, 2020, Mountain Valley MD Holdings Inc. (CNSX:MVMD) closed the transaction. The round was oversubscribed and company received CAD 4,323,199.74, issuing 19,650,908 units. Each unit is comprised of one common share and one half of one share purchase warrant, each warrant exercisable for 24 months at an exercise price of CAD 0.45 per share. In conjunction with the non-brokered offering, the company paid finder fees equal to 6% of the funds introduced by such finders, being CAD 243,528, paid by the issuance of 1,106,945 units at CAD 0.22 per unit. All securities issued pursuant to the offering will be subject to a four-month hold expiring on April 22, 2021.