Mr. Mark Upsdell reports

RAPID DOSE ANNOUNCES PAYMENT IN SHARES FOR QUARTERLY INTEREST ON SECURED DEBT

Pursuant to the terms of Rapid Dose Therapeutics Corp.'s amended and restated secured convertible notes dated Dec. 1, 2025, the company intends to issue common shares in satisfaction of the accrued interest payable on March 31, 2026. The company expects to issue the common shares no later than April 15, 2026.

The notes were issued as a result of an extension to the promissory notes that were originally issued by the company pursuant to its private placement financing that closed in 2023. The financing was an offering of units at a price of $1.00 per unit. Each unit consisted of $1.00 principal amount of notes and five common share purchase warrants of the company. The company closed all four tranches of the financing in 2023, issuing an aggregate of $3,134,445 principal amount of notes and 15,672,225 warrants.

As previously disclosed, the company agreed with noteholders holding an aggregate of $3,084,445 of promissory notes to extend the maturity date for one year on their respective notes to Nov. 30, 2026, and extend the expiry date for one year on their accompanying 15,422,225 warrants to Nov. 30, 2026. The notes bear interest at 18 per cent per annum, calculated and compounded monthly, and added to principal and payable quarterly in arrears in common shares at a price per share equal to the closing market price of the common shares on the Canadian Securities Exchange (the CSE) on the last trading day of each calendar quarter. The company is permitted to prepay the notes on 10 days of advance notice without notice or bonus.

Therefore, in accordance with the terms of the notes, the company intends to issue a total of 1,263,001 common shares to the holders of the notes at a deemed issue price of 11 cents per common share, being the closing market price of the common shares on the CSE on March 31, 2026 (the last trading day of the quarter), in satisfaction of the aggregate of $138,931.71 of accrued interest owing on the notes.

All common shares issued as payment for accrued interest will be subject to a hold period expiring four months and one day from the date of issue of the common shares.

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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