Rapid Dose Therapeutics Receives Funding for Scale-Up Manufacturing and Commercialization of Quickstrip™ Product
BURLINGTON, Ontario, Feb. 04, 2020 (GLOBE NEWSWIRE) — Rapid Dose Therapeutics Corp. (CSE: DOSE) (“RDT” or the “Corporation”) (“RDT” or the “Corporation”) is pleased to announce the company has secured government funding of $400,000 from The National Research Council of Canada Industrial Research Assistance (NRC-IRAP), to support a project focused on commercial development and scale-up manufacturing of cannabis infused QuickStrip™ oral dissolvable film strips. The funding will help RDT augment product development as well as enhance its manufacturing competency while creating new jobs and training skilled technical employees.
“This grant funding award from NRC-IRAP will help support speed to market for RDT’s QuickStrip™ products and enable scale production capacity to supply global markets, demonstrate superior product performance for customers while strengthening the Company’s IP portfolio,” said Mark Upsdell, CEO and Founder of RDT. He further added, “We are honoured and grateful to receive funding support from the Canadian government to help us advance our business innovation and commercialization activities.”About Rapid Dose Therapeutics
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 business solution 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. RDT 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.rapiddose.comFor further inquiries please contact:Kristina Shea
SVP, Marketing & Communications
(905) 876-8003Social Media
QuickStrip.instagramAny 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 changes in officers of the Corporation 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; the ability to implement its business strategies; competition; 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 Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.