Rapid Dose Therapeutics Receives Cannabis Sales License from Health Canada
RDT branded QuickSips™ and QuickStrip™ will be available in stores from coast-to-coast
BURLINGTON, Ontario--(BUSINESS WIRE)--Rapid Dose Therapeutics Corp. (“RDT” or the “Company”) (CSE: DOSE), a Canadian biotechnology company revolutionizing drug delivery through innovation, today announced the successful receipt of their cannabis sales license from Health Canada following a rigorous application and inspection process. This is in addition to the micro-processing license received November 15, 2019 which has allowed RDT to offer white-label products to multiple Canadian producers.
“Today marks another successful achievement at RDT with the receipt of our cannabis sales license from Health Canada and we are very pleased to be able to offer Canadian patients and cannabis consumers our innovative branded products,” said Mark Upsdell, CEO, Rapid Dose Therapeutics. “The novel dosing and delivery of our QuickStrip and QuickSip products makes them ideal for use by a wide range of consumers and we see a tremendous opportunity to leverage our technology with a number of key targets, in both the recreational and medical markets including long-term care and assisted living.”
The first marketed RDT cannabis product, a 10 mg THC lined QuickSips, will be distributed soon to cannabis stores across Ontario followed shortly thereafter by the RDT QuickStrip 10 mg THC sublingual oral dissolving strip. RDT has entered into a Master Distribution Agreement with CannMart Inc. (formerly Namaste Technologies Inc.) now Lifeist (TSXV: N), (FRANKFURT: M5BQ), (OTCMKTS: NXTTF) for the exclusive sales and distribution of RDT-branded cannabis products into retail locations across Canada.
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 (nutraceuticals, pharmaceuticals, vaccines, cannabis) that are delivered quickly into the bloodstream resulting in rapid onset of the active ingredient.
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 respect of the delivery of equipment and products using the QuickStrip™ product delivery method, the generation of recurring revenues, as at the date of this news release, 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 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.
Mark Upsdell, CEO