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Shell Summary for Dec. 17, 2018

2018-12-17 20:42 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 8.59 points to 546.79 Monday. Paul Ankcorn's first capital pool shell, the almost nine-year-old Acme Resources Corp., has finally closed a deal. It has launched a biotech promotion, Rapid Dose Therapeutics Corp. (DOSE: $0.85), on the Canadian Securities Exchange. Rapid Dose opened at 70 cents and reached an intraday high of $1.23 before closing at 85 cents on 230,600 shares.

Rapid Dose was founded last year in Burlington, Ont. It has since developed an oral strip, called QuickStrip, which it says can release drugs (or vitamins or other substances) into one's bloodstream as quickly as an intravenous needle can. The strip is meant to be placed under one's tongue. It would then dissolve within seconds. The company's website lists products such as QuickStrip Vitamin B12, QuickStrip Energy (containing caffeine) and QuickStrip Sleep (containing a sleep-control hormone called melatonin). It is unclear whether these listed products are already available, still in development or only being dreamed about. As of Aug. 31, 2018, Rapid Dose had not generated any revenue. It did, however, have $6.03-million cash. It had sold $5.4-million worth of shares at 75 cents to a licensed marijuana producer, Aphria Inc. (APHA: $7.32), which now holds 9.6 per cent of Rapid Dose's shares. As well, earlier this year, Rapid Dose sold $1.54-million worth of shares at 50 cents in four private placements, according to documents filed with the B.C. Securities Commission.

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