Become A Featured Company

Rapid Dose Therapeutics Announces Issuance of CRA Cannabis Licence and Board and Management Changes

Ryan Allway

February 23rd, 2020

News

BURLINGTON, Ontario, Feb. 21, 2020 (GLOBE NEWSWIRE) — Rapid Dose Therapeutics Corp. (CSE: DOSE) (“RDT” or the “Corporation”) is pleased to announce receipt of its Canada Revenue Agency (CRA) Cannabis Licence in February 2020, and now has obtained all approvals for cannabis processing and packaging for Canada. The licensing was required by RDT in order for RDT as a service provider to accept delivery of cannabis oil from its customers for RDT to process its customers’ cannabis oil into QuickStrip™ products at its Burlington, Ontario facility. The QuickStrip™ products are then delivered to the customer from whom the corresponding cannabis oil was received.

Although RDT does not own, buy or sell cannabis, RDT has been categorized as a cannabis company by its insurance provider due to its cannabis licensing. RDT’s current Directors and Officers insurance provider has recently been acquired by another insurer. The new insurer has made the internal decision not to offer insurance coverage for cannabis and cannabis-related businesses. RDT is currently exploring other D&O markets for coverage for RDT’s unique circumstances.

As a result, RDT announces the resignation of Donald Sheldon as a director of the Corporation and Miles Nagamatsu as its Chief Financial Officer, both resignations being effective February 20, 2020, due to the pending expiry of the Corporation’s current D&O insurance coverage.

Both Mr. Sheldon and Mr. Nagamatsu have indicated a willingness to be re-appointed as soon as replacement insurance policies can be secured by the Corporation with an alternate insurer.  In the interim, Mr. Sheldon will be continuing to serve the Corporation as legal counsel and Mr. Nagamatsu will be continuing to serve as a consultant. Rishi Kapadia, Controller, will temporarily assume and perform the responsibilities of Chief Financial Officer.

Jason Lewis, SVP of Business Development, has been appointed as a director of the Corporation, effective immediately.

“We would like to thank both Mr. Sheldon and Mr. Nagamatsu for their contributions to the Corporation in their respective roles,” said Mark Upsdell, Chief Executive Officer of RDT, “and we look forward to them re-joining RDT as a director and senior officer, respectively, in the near future.”

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.com

For further inquiries please contact:

Kristina Shea
SVP, Marketing & Communications
Corporate Secretary
kshea@rapid-dose.com
(905) 876-8003

Social Media
RapidDoseTherapeutics.linkedin
RapidDoseTherapeutics.twitter
RapidDoseTherapeutics.facebook
QuickStrip.instagram

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 Corporation securing particular forms of insurance coverage and certain directors and officers rejoining the Corporation in particular roles 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.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Network Partners

Follow Us on Social Media

LinkedIn

About CFN Media Group

CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer

loading