Rapid Dose Announces Closing of Final Tranche of Common Share Private Placement

FacebookFacebookTwitterTwitterEmailEmailLinkedInLinkedInWhatsAppWhatsAppMessengerMessengerFlipboardFlipboardGmailGmailTelegramTelegramShareShare

Burlington, Ontario–(Newsfile Corp. – October 30, 2024) – Rapid Dose Therapeutics Corp. (CSE: DOSE) (“RDT” or the “Company“) is pleased to announce that it has closed a second and final tranche of its previously announced equity private placement financing (the “Financing“) for aggregate gross proceeds of $542,000.

The proceeds of the Financing will be used for research and development, capital expansion, repayment of debt and general working capital requirements.

The Financing allowed for a maximum of $6,000,000 of gross proceeds consisting of up to 35,294,117 common shares (“Common Shares“) at a price of $0.17 per Common Share. On this second tranche closing, the Company issued 3,188,233 Common Shares at $0.17 per Common Share. Together with the first tranche of the Financing, the Company has raised aggregate gross proceeds of $851,000. Common Shares issued on the Financing will be subject to a four-month hold period from the date of closing in accordance with applicable securities laws.

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. For more information about the Company, visit www.rapid-dose.com.

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, including, without limitation, in this news release in particular, statements regarding the size and completion of the Financing and the use of proceeds from the Financing, and in general, in respect of the delivery of equipment and products using the QuickStrip™ product delivery method, the generation of recurring revenues, the plans, estimates, forecasts, projections, expectations or beliefs of RDT management as to future events or results, 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 WLM 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. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States. The securities described in this news release have not been and will not be registered under the United States 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 or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228401

Staff

Recent Posts

FinThrive Introduces Agentic AI at HFMA 2025 to Help Customers Transform Healthcare Revenue Cycle Management Performance

Company to also highlight advancements in denials and underpayments management and speak to the measurable…

6 hours ago

FinThrive Debuts Denials and Underpayments Analyzer, a Unified Solution for Denials and Underpayments, at HFMA 2025

Next generation analyzer helps hospitals protect revenue before it's lost by delivering timely end-to-end visibility…

6 hours ago

Novo Nordisk A/S: CagriSema 2.4 mg / 2.4 mg demonstrated 22.7% mean weight reduction in adults with overweight or obesity in REDEFINE 1, published in New England Journal of Medicine

Data presented simultaneously at the American Diabetes Association’s® 85th Scientific Sessions, showed mean weight reduction…

9 hours ago

Dr. Anosh Ahmed Advances Chicago Crypto Hub Project as Federal Support for Blockchain Grows

Dr. Anosh Ahmed repurposes West Side warehouse into blockchain innovation center, targeting 250+ jobs and…

9 hours ago

Dr. Anosh Ahmed Advances Chicago Crypto Hub Project Amid National Pro-Crypto Policy Shift

Dr. Anosh Ahmed converts vacant West Side warehouse into blockchain innovation hub, creating 250+ jobs…

9 hours ago

BioAge Labs to Present Preclinical Data on APJ Agonism for Diabetic Obesity and Heart Failure at the American Diabetes Association (ADA) 85th Scientific Sessions

Treatment with apelin receptor agonist enhanced glycemic control and demonstrated cardioprotective effects, with additive benefits…

9 hours ago