BURLINGTON, ON and BRANTFORD, ON, Aug. 8, 2019 /CNW/ - Rapid Dose Therapeutics Corp. (CSE: DOSE), ("RDT") announced today that they have signed a Manufacturing Agreement ("the Agreement") with Thrive Cannabis ("Thrive") to produce QuickStrip™ cannabis products for both the Canadian medical and recreational markets. This Agreement represents a continuation of the RDT growth strategy.
RDT's proprietary QuickStrip™ technology is a smoke-free, sublingual, fast-dissolving drug delivery system that offers an Anytime, Anywhere™ product for medical and recreational consumers.
"We are demonstrating our ongoing commitment to providing consumers in the Canadian medical and recreational cannabis markets a Smoke-Free Choice™ with a proprietary delivery technology that is Quick, Convenient, Precise and Discreet™," said Mark Upsdell, CEO of RDT. "RDT will continue to expand our strategic partnerships and further strengthen our unique delivery leadership position within the cannabis sector. This agreement with Thrive proves that QuickStrip™ is a desirable technology and delivery option for Canadian consumers, while simultaneously offering health benefits and improving consumer outcomes," added Upsdell.
Thrive expects to allocate a significant proportion of its high-quality processed distillate to the production of QuickStrip™, launching under its first brand, GreyBeard and then following with a women-focused QuickStrip™ product. Thrive will also take on new medical and consumer brand production for other Canadian licensed producers.
Todd Masse, Thrive CCO, states "This Agreement enables Thrive to ensure complete coverage and demand fulfillment where gaps may have otherwise existed. All Canadians should have access to the QuickStrip™ delivery technology. The Agreement with RDT will enable Thrive to provide QuickStrip™ product to a wide cannabis consumer base across Canada. QuickStrip™ allows us to offer consumers and patients a No Smoke. No Smell. No Stigma™ product." Masse continues, "In the coming weeks we will be evaluating white label opportunities with other leading cannabis organizations."
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 Managed Strip Service Program 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. Rapid Dose Therapeutics is committed to continually create innovative solutions aimed at multiple consumer segments and future market needs — including humans, animals and plants.
About Thrive Cannabis Thrive Cannabis is currently developing premium brands for the Canadian recreational market that will commence distribution in 2020 and beyond. TerraFarma is a privately-held, vertically-integrated cultivator and processor of premium and ultra-premium cannabis and cannabis offshoots, founded in 2018, with production facilities in Jarvis, Ontario. TerraFarma's wholly-owned subsidiary Thrive Cannabis holds production, sales and outdoor cultivation licenses from Health Canada.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: 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" or the negative of these terms and similar expressions. Statements containing forward-looking information, including, without limitation, in respect of the delivery of products using the QuickStrip™ product delivery method, express, as at the date of this news release, the plans, estimates, forecasts, projections, expectations or beliefs of RDT as to future events or results and are believed to be reasonable based on information currently available to them. 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; 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 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 statements. Readers should not place undue reliance on forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
SOURCE Rapid Dose Therapeutics Corp.
For further information: For inquiries please contact: Mark Upsdell, CEO, Rapid Dose Therapeutics, [email protected], Office (416) 477-1052; Ali Mahdavi, Managing Director, Spinnaker Capital Markets Inc., [email protected], Office (416) 962-3300