Rapid Dose Therapeutics Signs Production Agreement With OG Laboratories to Produce Cannabis Vape and CBD From Hemp Products
BURLINGTON, Ontario, March 10, 2021 (GLOBE NEWSWIRE) — Rapid Dose Therapeutics Corp. (“RDT” or the “Company”) (CSE: DOSE) 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.