BURLINGTON, ONTARIO, CANADA, December 16, 2020 /EINPresswire.com/ — Rapid Dose Therapeutics Corp. (“RDT” or the “Company”) (CSE: DOSE), a Canadian life sciences company focused on innovative drug and active ingredient delivery solutions, is pleased to announce the closing of the first tranche of a Non-Brokered Private Placement. The tranche consists of 3,599,370 Common Share Units at a price of $0.25 per Unit for net proceeds to the Company of $899,842.50. Each Unit consists of one Common Share and one Common Share Purchase Warrant which entitles the holder to acquire one Common Share of the Company at $0.40 per Share. The Share Purchase Warrants expire twenty-four months from the date of issuance.
The funds will be used by the Company to continue the commercialization of its proprietary drug delivery technologies and for general corporate purposes.
About Rapid Dose Therapeutics
Rapid Dose Therapeutics Corp. is a publicly-traded Canadian Life Sciences company providing innovative, proprietary drug delivery technologies designed to improve outcomes and quality of lives. RDT offers Quick, Convenient, Precise and Discreet™ choices to consumers. RDT is focused and committed to clinical research and product development for the healthcare manufacturing industry — including nutraceutical, pharmaceutical and cannabis industries. Within the cannabis sector, RDT also provides a turn-key Managed Strip Service Program enabling RDT’s QuickStrip™ proprietary cannabis delivery technology to be licensed to select operators in identified markets. RDT’s service-based annuity contracts drive recurring revenue and facilitate rapid expansion into emerging markets across multiple consumer segments. RDT is committed to continually create innovative solutions for humans, animals and plants.
For more information, visit: www.rapiddose.ca
For inquiries please contact:
Ofc (416) 477-1052
Managing Director Capital Markets
Ofc (416) 365-8012
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
Certain information in this news release may contain forward-looking information within the meaning of applicable securities laws.
Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend”, “will”, “could”, “are planned to”, “are expected to” or the negative of these terms and similar expressions. Statements containing forward-looking information, including, without limitation, in respect of the delivery of equipment and products using the QuickStrip™ product delivery method, the generation of recurring revenues and the dismissal of the CTT lawsuit, express, as at the date of this news release, the plans, estimates, forecasts, projections, expectations or beliefs of RDT management as to future events or results and are believed to be reasonable based on information currently available to RDT management. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; termination of WLM agreements; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally, income tax and regulatory matters; the ability to implement its business strategies; competition; currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing list is not exhaustive. There can be no assurance that statements of forward-looking information, although considered reasonable by RDT management at the time of preparation, will prove to be accurate as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Actual results and future events could differ materially from those anticipated in such forward-looking statements. Readers should not place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.