Rapid Dose Therapeutics-Branded Cannabis Products in Retail Locations Across Canada Via Master Distribution Agreement with Namaste Technologies Subsidiary CannMart
July 14th, 2021
BURLINGTON, Ontario–(BUSINESS WIRE)–Rapid Dose Therapeutics Corp. (“RDT” or the “Company”) (CSE: DOSE) is pleased to announce that they have entered into a Master Distribution Agreement with Namaste Technologies Inc. (TSXV: N), (FRANKFURT: M5BQ), (OTCMKTS: NXTTF) subsidiary CannMart Inc. for the exclusive sales and distribution of RDT-branded cannabis products into retail locations across Canada.
“The support and encouragement we have received by our partners at CannMart has been extremely valuable and we look forward to working with their established sales network across Canada on the commercialization of our RDT-branded cannabis”
“The support and encouragement we have received by our partners at CannMart has been extremely valuable and we look forward to working with their established sales network across Canada on the commercialization of our RDT-branded cannabis,” said Mark Upsdell, CEO, Rapid Dose Therapeutics. “This strategic alliance will drive sales of the RDT-branded cannabis products while equally allowing RDT management to remain laser focused on the Company’s core business, including vaccines and pharmaceutical products.”
“We are excited to enter into this agreement with RDT to distribute their innovative cannabis products,” said Meni Morim, CEO of Namaste. “As we continue to build a wide spectrum of cannabis products that offer both traditional and newer delivery platforms, and we are pleased to be entering a new category with the addition of the QuickStrip™ and QuickSips™ line of products. CannMart continues to rapidly increase its SKU count which now stands at approximately 700 and receives a record number of requests from vendors across North America to list their products onto our innovative marketplace platform. We are confident this will be a successful partnership with RDT and we look forward to achieving our growth objectives.”
The first marketed RDT cannabis product, a 10 mg THC lined QuickSips, will be distributed soon to cannabis stores across Canada followed shortly thereafter by the RDT QuickStrip 10 mg THC sublingual oral dissolving strip.
“The QuickSips biodegradable infused straws demonstrates another unique application of our orally dissolvable thin strip technology and is a natural extension to our flagship QuickStrip™ product,” added Mr. Upsdell. “The straw is an effective alternative for the delivery of a myriad of health and wellness products, including nutraceuticals, pharmaceuticals and cannabis to a wide range of consumers and patients. Effective and reliable dosing is achieved by simply drinking a beverage and we forecast the opportunities for ongoing commercialization of this product to be significant.”
RDT’s QuickSips innovation offers a number of key benefits:
- Composed of organic sugarcane fibre, food starch and plant gum
- Biodegradable and compostable, BPA and plastic free
- Active ingredient is infused on the inside of the straw, dissolves quickly and is taken up in just a few sips of liquid
- Measured, sealed and precisely dosed
- Easy to use, convenient and discrete
- Eliminates the need for pills, tinctures or other delivery systems
- Fully certified: food safe, SCS, Zero Waste Canada and 1% for the Planet
The QuickSips is being manufactured for RDT under a Manufacturing Services Agreement with WG Pro-Manufacturing Inc., a Canadian-based producer of infused edible products.
About Namaste Technologies Inc.
Namaste Technologies is a marketplace platform for cannabis and wellness products. At CannMart.com, the Company provides Canadian medical customers with a diverse selection of hand-picked products from a multitude of federally licensed cultivators and US customers with access to hemp-derived CBD and smoking accessories. The Company also distributes licensed and in-house branded cannabis and cannabis derived products in Canada through a number of provincial government control boards and retailing bodies and facilitates licensed cannabis retailer sales online in Saskatchewan. Namaste’s global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions.
About Rapid Dose Therapeutics Corp.
Rapid Dose Therapeutics (RDT) 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.
For more information, visit: www.rapiddose.ca
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”, “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 delivery of equipment and products using the QuickStrip™ product delivery method, the generation of recurring revenues, 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; marketing costs; loss of markets; termination of WLM agreements; 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 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.
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