Health Canada Grants Micro-Processing Licence to Rapid Dose
November 19 2019 - 8:00AM
Rapid Dose Therapeutics Corp.
(“RDT” or the
“Corporation”)
(
CSE: DOSE) today reported that is has been issued
a micro-processing licence by Health Canada for its Burlington,
Ontario facility in accordance with the Cannabis Act and Cannabis
Regulations.
“This is a major milestone for RDT and will now
enable us to produce QuickStrip™ cannabis products for both the
Canadian medical and recreational markets,” said Mark Upsdell, CEO.
“Given the current global vaping crisis, regulators, medical
experts, and consumers are looking for a reliable delivery solution
to replace inhalation.”
RDT’s proprietary QuickStrip™ technology is a
Quick, Convenient, Precise, Discreet™ non-inhalation, oral,
fast-dissolving drug delivery system that offers an Anytime,
Anywhere™ product to consumers.
Under the terms of the current Health Canada
licence, RDT will produce sufficient quantities at its Burlington
facility to supply some of the initial needs of the Canadian market
through its manufacturing agreement with Thrive Cannabis.
“We are now in a position to offer a unique
delivery option that permits accurate dosing, predictable onset,
and efficient delivery of CBD, THC, and combination products,” said
Upsdell. “RDT’s QuickStrip™ provides an alternative choice for
consumers who desire the benefits of cannabis but prefer not to
smoke, vape, or consume oils in other formats.”
The awarding of this licence by Health Canada
will complement RDT’s strategy of entering into Managed Strip
Services Agreements enabling vendors to manufacture, distribute and
sell RDT’s QuickStrip™ products for the cannabis market in the U.S.
and international territories. RDT currently has six signed
agreements covering jurisdictions in Canada, United States and its
Territories, and Europe.
RDT will continue to expand its strategic
partnerships and further strengthen its unique delivery leadership
position within the cannabis sector. RDT believes QuickStrip™ is a
desirable technology and delivery option for consumers across
Canada and throughout the world where cannabis has been legalized,
while simultaneously offering health benefits and improving
consumer outcomes.
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
Therapeuticsifodiel@rapid-dose.comOffice (416) 477-1052 |
|
Ali Mahdavi, Managing DirectorSpinnaker Capital Markets
Inc.am@spinnakercmi.comOffice (416) 962-3300 |
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This news release does not constitute an offer
to sell or a solicitation of an offer to buy any Common Shares nor
shall there be any sales of the Common Shares in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such
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registered under the U.S. Securities Act of 1933, as amended (the
“U.S. Securities Act”), or any state securities
laws and may not be offered or sold within the United States unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
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, in respect of the delivery of products using
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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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