Rapid Dose Therapeutics Completes QuickStrip™ Equipment Installation in Puerto Rico and Grants Stock Options

Rapid Dose Therapeutics Corp. (“RDT”) (CSE: DOSE) announced today that the installation of its QuickStripproduction equipment at Chemesis International Inc. (“Chemesis”) (CSE: CSI) (OTC: CADMF) (FRA: CWAA) is now complete, enabling the immediate recognition of revenue to RDT under the Managed Strip Services Agreement signed in October 2018 (the “Agreement”). 

Under the Agreement, Chemesis has been granted the right to manufacture, distribute and sell RDT’s QuickStrip innovative, proprietary delivery technology products to the cannabis market in the US Territory of Puerto Rico.

RDT’s proprietary QuickStrip technology is a Quick, Convenient, Precise, Discreet oral fast-dissolving drug delivery system providing cannabis consumers a smoke-free alternative, while simultaneously offering health benefits and improving patient outcomes.

“RDT remains committed to providing global consumers in the cannabis markets a Smoke-Free Choice that they can consume Anytime, Anywhere.  As these markets evolve and expand, RDT will be at the forefront of innovative cannabis delivery,” said Mark Upsdell, CEO of RDT. “We are pleased to have Chemesis as our partner in Puerto Rico, which further strengthens and positions QuickStrip as a growing international brand and delivery device,” added Upsdell.

RDT also announced the grant of options to an officer and employees to purchase 1,100,000 common shares of the Corporation, exercisable at $0.82 per share at any time on or before July 29, 2024. The grants are subject to the terms of RDT’s stock option plan. In accordance with securities regulatory requirements, any shares issued pursuant to the exercise of such options will be subject to a resale restriction for a period of four months from the date of the grant.