Rapid Dose Therapeutics Announces Credit Facility Financing
2020年8月12日 - 6:29AM
Rapid Dose Therapeutics Corp. trading on the
Canadian Securities Exchange (“CSE”) under the symbol
DOSE (“
RDT” or the
“
Company”) announces that the Company, in
conjunction with Leede Jones Gable, has received an initial advance
from a strategic industry investor of $500,000 of financing as part
of a proposed $6,000,000 credit facility.
The financing comes from a lender with upstream
assets who recognized the significance of the RDT technology and
business model to allow for the rapid deployment of QuickStrip™
into the global markets. The high margin opportunity in the THC and
CBD markets was key to the decision to select RDT as an investment
opportunity.
The proposed credit facility of which $3,000,000
(which includes the first tranche of $500,000) will be in the form
of a term loan to be taken up on signing, with the remaining
$3,000,000 to be made available as a revolving line of credit drawn
in increments of $500,000. The funds are to be used to support the
rapid expansion into new markets, the roll out of the Company’s
production at its Burlington Ontario facility, provide operating
capital for its trade credit and to finance special projects in
conjunction with the Company’s strategic business growth
strategies. Operationally, provision by the lender of a secure
supply of quality CBD will enable RDT to provide final CBD products
for Canada and export markets.
Funds advanced to the Company under this initial
advance bear interest at an annual rate of 12%, payable monthly in
arrears. In connection therewith, and upon closing of the proposed
credit facility, the initial advance will be rolled into the credit
facility with an interest waiver for the first twelve (12) months.
As part of the transaction, the Company will issue the lender seven
(7) million warrants exercisable at $0.25 cents per share over a
24-month period.
Mark Upsdell, CEO of RDT said “This is a very
exciting and important confirmation that our technology, strategy,
and downstream product offering is exactly the type of investment
opportunity that strategic investors are seeking. RDT continues to
pursue its global strategy of implementing QuickStrip™ sublingual /
buccal delivery in pharmaceuticals, nutraceuticals, and in the
adult use cannabis market with select global Licensed Producers.
This facility will enable RDT to initiate new growth programs in
development, reach new markets, continue its partnerships
arrangements in researching the benefits of QuickStrip as a COVID
vaccine delivery alternative, and have access to working capital
for operations.”
About Rapid Dose Therapeutics
Rapid Dose Therapeutics Corp. is a publicly
traded Canadian life sciences company that provides 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 provides a
turn-key business solution which enables RDT’s QuickStrip™
proprietary drug delivery technology to be licensed by select
partners. RDT’s service-based annuity contracts drive recurring
revenue which enables rapid expansion into emerging markets —
generating value for consumers and shareholders. RDT is committed
to continually create innovative solutions aimed at multiple
consumer segments and future market needs — including humans,
animals and plants.
For more information, visit: www.rapiddose.com
For further inquiries please contact:
Mark UpsdellPresident and Chief Executive
Officermupsdell@rapid-dose.com416-477-1052
Social
MediaRapidDoseTherapeutics.linkedinRapidDoseTherapeutics.twitterRapidDoseTherapeutics.facebookQuickStrip.instagram
This news release contains forward-looking
information. All information, other than statements of historical
fact, that address activities, events or developments that RDT
believes, expects or anticipates will or may occur in the future
are forward-looking statements, including statements regarding the
completion of the proposed $6,000,000 credit facility. This
forward-looking information is subject to a variety of risks and
uncertainties beyond RDT’s ability to control or predict and which
may cause actual events or results to differ materially from those
described in such forward-looking information. Any forward-looking
information speaks only as of the date on which it is made and,
except as may be required by applicable securities laws, RDT
disclaims any intent or obligation to update any forward-looking
information, whether as a result of new information, future events
or results or otherwise. Although RDT believes that the assumptions
inherent in the forward-looking information are reasonable,
forward-looking information is not a guarantee of future
performance and, accordingly, undue reliance should not be placed
on this forward-looking information due to the inherent uncertainty
thereof.
The Canadian Securities Exchange has not
reviewed and does not accept responsibility for the adequacy or
accuracy of the content of this news release.
Rapid Dose Therapeutics (CSE:DOSE)
過去 株価チャート
から 12 2024 まで 1 2025
Rapid Dose Therapeutics (CSE:DOSE)
過去 株価チャート
から 1 2024 まで 1 2025