Rapid Dose Therapeutics Delivers Shipments of Oral Strips to Thrive Cannabis, in Stores Now
December 21, 2020
BURLINGTON, Ontario December 21, 2020 – Rapid Dose Therapeutics Corp. (“RDT” or the “Company”) (CSE: DOSE), a Canadian life sciences company focused on innovative drug and active ingredient delivery solutions, has worked diligently with its customer, Thrive Cannabis Inc. (“Thrive”), this past year preparing to launch Thrive’s Being™ brand of THC and CBD 10mg oral strips using RDT’s QuickStrip™ formulations infused with Thrive’s cannabis oils. RDT is now pleased to announce that shipments of Thrive’s oral strips have commenced and are being sold in stores across Ontario through Ontario’s cannabis distribution system.
Jason Lewis, Senior Vice President Business Development, announced that, “Despite the delays and product deployment issues occurring in 2020, we have delivered on our commitment by producing a rapid response, precisely dosed QuickStrip™ that complies with all of Health Canada’s exacting regulations for this new extract product. Edible products, such as oils and pills, which are swallowed are released slowly into the bloodstream through the digestive system. Alternatively, a QuickStrip™ simply placed under the tongue or inside the cheek is absorbed directly into the bloodstream providing a quick, convenient, precise, and discreet dosing experience. As these products get launched throughout Canada over the next three months, we anticipate Ontario stores issuing replenishment stocking orders behind the first deliveries indicating an early-stage level of interest by consumers in these unique products. As a result, RDT is now operating two shifts per day and scaling production to fulfill further order requirements for the first calendar quarter of 2021.”
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:
Managing Director Capital Markets
Ofc (416) 477-1052
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 include, without limitation, statements in respect of the delivery of equipment and products using the QuickStrip™ product delivery method, the generation of recurring revenues, and, restocking orders. As at the date of this news release, such forward-looking statements represent 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 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.
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