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DOSE - Rapid Dose Therapeutics News Story

C$0.21 0.0  0.0%

Last Trade - 14/05/21

Sector
Healthcare
Size
Micro Cap
Market Cap £9.47m
Enterprise Value £10.4m
Revenue £112k
Position in Universe 1730th / 2705

Rapid Dose Therapeutics Signs Exclusive Manufacturing and Distribution Agreement With MapleX Naturals Inc.

Tue 13th April, 2021 12:30pm
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BURLINGTON, Ontario, April 13, 2021 (GLOBE NEWSWIRE) -- Rapid Dose
Therapeutics Corp. (“RDT” or the “Company”) (CSE: DOSE
(https://www.globenewswire.com/Tracker?data=_RHGrAig9I79paIZITZlM_wBgRbUD-fMxKsxvjMmeQOyIXIqrL4Qo0BSH54xIX0eMyllkIVWAGIHujx3gxNwVk-dwUgUvBuHOle9G-2M02GOgcQQNYmi-afcN0WhU1fN9MJWj5B0MVje76fWvI9HIA==)),
is a Canadian Life Science company focused on innovative drug and active
ingredient delivery solutions. The flagship product ‘QuickStrip™’ is a
thin, orally dissolvable film, infused with an active ingredient
(nutraceuticals, cannabis or pharmaceuticals) that is delivered quickly into
the bloodstream bypassing first-pass metabolism resulting in rapid onset of
the active ingredient.

The Company is announcing today that it has entered into an exclusive
manufacturing and distribution agreement with MapleX Naturals Inc.
(“MapleX”) for its personal care product line of topical creams and
lotions which are infused with natural ingredients such as Hemp and Canadian
maple syrup, for sale by the Company to retailers across North America. MapleX
was a founding shareholder in Consolidated Craft Brands (“CCB”) which was
recently acquired by and amalgamated into a wholly-owned subsidiary of RDT.

MapleX has significant experience “infusing Hemp” extracts (rich in Omega
3,6, and 9), into high end personal care products to provide a “humectant”
which repairs the skin, locks in moisture, regulates oil production, reduces
inflammation, and visibly smooths the skin. MapleX products are currently
distributed in specialty retail locations across Canada. 

Dave Thompson, CEO of MapleX, commented, “We are excited to enter into this
agreement with RDT. As a result, we look forward to providing customers in
Canada and later in the United States with our MapleX product line. This
agreement with RDT further allows us to introduce a range of beauty and
cosmetic products to consumers. We are confident this will be a successful
partnership and we look forward to achieving our growth objectives.”

Mark Upsdell, CEO of RDT commented, “The agreement with MapleX is key to our
product line expansion as we continue to grow our health and wellness
portfolio of products to augment the opportunities from our ‘QuickStrip™
technology. The MapleX personal care line will offer an expanding range of
Hemp infused topical creams, lotions and balms for private label clients
looking to establish a retail brand in the non-regulated Hemp market through
traditional retailers. Through the amalgamation with CCB, we have accelerated
our entry into the Consumer Packaged Goods (CPG) segment of the market which
provides RDT with multiple revenue streams and expanded product offerings. The
health and wellness space is a logical progression in RDT’s journey to
provide innovative transdermal and sublingual delivery technologies for
therapeutic, cosmetic and enhanced recreational customer experiences. We have
already shipped our first topical products and look forward to seeing them in
retailers across Canada in the coming weeks.”

About RDT

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.
RDT is committed to continually create innovative solutions for humans,
animals, and plants.

For more information, visit: www.rapiddose.ca

For inquiries please contact:

   Mark Upsdell             Pat McCarthy                       
   CEO                      Managing Director Capital Markets  
   mupsdell@rapid-dose.com  pmccarthy@leedejonesgable.com      
   Ofc (416) 477-1052       Ofc (416) 365-8012                 

(https://www.globenewswire.com/NewsRoom/AttachmentNg/a387d767-6399-4b6a-b8b1-63a75fef7963)



GlobeNewswire, Inc. 2021
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