Mr. Mark Upsdell reports
RAPID DOSE ANNOUNCES PROPOSED EQUITY PRIVATE PLACEMENT FINANCING
Rapid Dose Therapeutics Corp. intends to complete an equity private
placement financing for up to $6-million of gross proceeds, consisting of up
to 35,294,117 common shares at a price of 17 cents per common share.
The company intends to use the proceeds from the financing for debt retirement, research and
development, capital expansion, and working capital purposes. The financing may close in one
or more tranches. The securities issued on the financing will be subject to a four-month hold
from the applicable date of closing.
Rapid Dose announces proposed debt settlement
Rapid Dose Therapeutics has
agreed with certain of its creditors to issue up to an aggregate of 1.75 million common shares to such creditors in exchange for the cancellation of
outstanding accounts payable (the shares for debt transaction) in the aggregate amount of
up to $297,500 owing to such creditors. The settlement shares will be issued at a
price of 17 cents, in accordance with the policies of the Canadian Securities Exchange (CSE).
The company is completing the shares for debt transaction to improve its financial position by
reducing its existing liabilities. All settlement shares issued to Canadian residents will be subject
to a four-month hold period from the date of issuance. The shares for debt transaction remains
subject to CSE acceptance. No new control person of the company will be created pursuant to
the shares for debt transaction.
About Rapid Dose Therapeutics Corp.
Rapid Dose Therapeutics is a Canadian biotechnology company revolutionizing drug delivery through innovation. The company's flagship product, QuickStrip, is a thin, orally dissolvable film that can be infused with an infinite list of active ingredients, including nutraceuticals, pharmaceuticals and vaccines, that are delivered quickly into the bloodstream, resulting in rapid onset of the active ingredient.
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