Rapid Dose Therapeutics Completes Quickstrip™ Equipment Installation at Aphria Inc.
September 10 2019 - 7:00AM
Rapid Dose Therapeutics Corp.
(“
RDT”) (
CSE: DOSE) announced
today that the installation and commissioning of its QuickStrip™
production equipment at Aphria Inc. (“
Aphria”)
(TSX: APHA and
NYSE: APHA) has
been completed pursuant to the terms of the Managed Strip Services
Agreement between RDT and Aphria dated November 1, 2018 (the
“Agreement”).
Under the Agreement, Aphria has been granted an
exclusive license to manufacture, distribute and sell RDT’s
QuickStrip™ innovative, proprietary delivery technology products to
the medical and adult-use cannabis markets in Canada.
The Agreement also grants Aphria exclusive
Preferred Vendor Status entitling them to enter additional
territories under license terms similar to Canada and to produce
QuickStrip™ product under white label manufacturing agreements.
In light of the installation of RDT QuickStrip™
production equipment, Aphria will now move forward with its
production and distribution planning in Canada.
RDT’s proprietary QuickStrip™ technology is a
Quick, Convenient, Precise, Discreet™ oral fast-dissolving drug
delivery system providing cannabis consumers a smoke-free
alternative, while simultaneously offering health benefits and
improving patient outcomes.
“RDT remains committed to providing global
consumers in the cannabis markets a Smoke-Free Choice™ that they
can consume Anytime, Anywhere™. As the cannabis markets evolve and
expand, we believe RDT will be at the forefront of innovative
cannabis delivery,” said Mark Upsdell, CEO of RDT. “We are thrilled
to have Aphria as our flagship partner in Canada, which we believe
further strengthens and positions QuickStrip™ as a growing
international brand and delivery device,” added Upsdell.
“Aphria is excited to introduce RDT’s
QuickStrip™ products to the Canadian cannabis market later this
year,” said Irwin D. Simon, Interim CEO, Aphria Inc. “This further
demonstrates Aphria’s commitment to staying at the forefront of
cannabis innovation. Not only do we believe that this innovative
product will revolutionize the way patients and consumers interact
with cannabis, we believe the QuickStrip™ will help ease concerns
surrounding consumption by providing a smoke-free product that
delivers a consistent and precise dosage,” added Simon.
About Rapid Dose Therapeutics
Corp.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 Managed Strip Service Program 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. Rapid
Dose Therapeutics 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.rapid-dose.com
For inquiries please contact: |
|
Ian Fodie, CFORapid Dose Therapeutics
Corp.ifodie@rapid-dose.comOffice (416) 477-1052 |
Ali Mahdavi, Managing Director Spinnaker Capital Markets
Inc.am@spinnakercmi.com Office (416) 962-3300 |
|
|
Social
MediaRapidDoseTherapeutics.linkedinRapidDoseTherapeutics.twitterRapidDoseTherapeutics.facebookQuickStrip.instagram |
|
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” or the negative of these terms and similar expressions.
Statements containing forward-looking information, including,
without limitation, the delivery of products using the QuickStrip™
product delivery method, and the plans, estimates, forecasts,
projections, expectations or beliefs of RDT as to future events or
results and are believed to be reasonable based on information
currently available to them. Forward-looking statements necessarily
involve known and unknown risks, including, without limitation,
whether Aphria can successfully produce and distribute RDT’s
QuickStrip™ delivery technology products to the medical and
adult-use cannabis markets in Canada; whether Aphria elects to
enter into additional territories; our belief that the cannabis
markets will grow and expand; whether the QuickStrip™ delivery
technology is adopted by consumers and others; risks associated
with general economic conditions; adverse industry events;
marketing costs; loss of markets; 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 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 statements. Readers
should not place undue reliance on forward-looking information.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement.
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