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DOSE - Rapid Dose Therapeutics News Story

C$0.225 0.0  2.3%

Last Trade - 07/05/21

Micro Cap
Market Cap £10.2m
Enterprise Value £11.1m
Revenue £113k
Position in Universe 1706th / 2702

Rapid Dose Therapeutics Signs Production Agreement With OG Laboratories to Produce Cannabis Vape and CBD From Hemp Products

Wed 10th March, 2021 10:14pm
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BURLINGTON, Ontario, March 10, 2021 (GLOBE NEWSWIRE) -- Rapid Dose
Therapeutics Corp. (“RDT” or the “Company”) (CSE: DOSE)
(https://www.globenewswire.com/Tracker?data=r-vgjoYaUknalddBkAQhIY25kizLCpb0DsOCkM4nuTtppLN_T9xpiwUhTYVb6wc-1DBLF0NOmcqCjmHiwEdrextCVgdfdAeoAiN424GmxcGtvPUTt3GN0YnVhzt-bNwbHMp0GOJArHumaf6HYkGcYw==) 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 a product
manufacturing and distribution agreement with OG Laboratories Canada Inc., a
wholly owned subsidiary of OG Laboratories LLC. (“OG”) headquartered in
Deerfield Beach Florida, to manufacture OG’s vape line of products for the
Canadian market. OG will license its formulations, processes, certain
technology and provide the equipment to RDT in return for service fees based
on sales.

OG has experienced rapid growth in the United States creating a premium CBD
from hemp line of products marketed through its popular website
www.oglaboratories.com. OG has been seeking a Canadian partner who shares the
same business vision for its products and has the capability to produce for
both the cannabis and non-cannabis sectors in the Canadian marketplace. RDT
with its cannabis licence and built out production facility in Burlington
Ontario is the perfect fit for establishing OG product sales in Canada.

OG’s product line adds to RDT’s growing array of products available to
consumers through both the cannabis and nutraceutical distribution channels.
With the recently announced acquisition of Consolidated Craft Brands, and
through its selling shareholder alliances, these channels are expanding
rapidly for products like the ‘QuickStrip™’, nutraceuticals, topicals
and now the OG product line.

“Partnering with OG, a pioneer in the US non-cannabis CBD market, gives us
the ability to quickly and efficiently enter the vaping market here in Canada.
This fits perfectly into our strategy of being the leader in providing
alternatives in the delivery of active ingredients in both the cannabis and
CBD from hemp market,” Mark Upsdell, CEO of RDT explains.

Nick Trivedi, CEO of OG Laboratories, said, “OG Laboratories is excited to
enter the Canadian market with the partnership with Rapid Dose. Quality is the
key component of our products and processes, and we believe RDT provides the
right partnership opportunity for us in the Canadian market. We have
experienced demand from Canadians on our website that we were unable to
fulfill. Through RDT, we can now make our popular aftermarket pods and
disposable vaporizers available to Canadian customers. We are also looking
forward to bringing continued innovation and new formulations to the market
with this partnership with Rapid Dose.”

About Rapid Dose Therapeutics
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’s service-based annuity contracts drive recurring revenue and facilitate
rapid expansion into emerging markets across multiple consumer segments. RDT
is committed to continually create innovative solutions for humans, animals,
and plants.

About OG Laboratories
OG Laboratories is a privately held company producing and distributing its CBD
products in the United States through both direct consumer channels and
through retail outlets where CBD from hemp products are sold.

For more information, visit: www.rapiddose.ca

For inquiries please contact:

Mark Upsdell 
Ofc (416) 477-1052

Pat McCarthy
Managing Director Capital Markets
Ofc 416-365-8012

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 and the dismissal of the CTT
lawsuit, express, 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.


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