RAPID DOSE THERAPEUTICS - RDTCF STOCK NEWS

Rapid Dose Therapeutics (CSE: DOSE) has announced a proposed equity private placement financing aiming to raise up to $6,000,000 through the issuance of up to 24,000,000 units at $0.25 per unit. Each unit includes one common share and one warrant exercisable at $0.33 for two years.

The company plans to use the proceeds for debt retirement, research and development, capital expansion, and working capital. Meadowbank Asset Management will serve as the agent, receiving a 1% cash commission and 6% in agent warrants.

Additionally, RDT plans to settle up to $400,000 in debt through the issuance of up to 1,600,000 common shares at a minimum price of $0.25 per share to improve its financial position.

Rapid Dose Therapeutics Corp. (CSE: DOSE) has filed a patent application for its Lidocaine Oral Thin Film Strip with the Canadian Intellectual Property Office. The innovative product offers an alternative to traditional dental anesthesia methods, delivering lidocaine through a dissolvable strip that adheres to oral mucosa.

The Lidocaine QuickStrip™ provides precise application, complete dissolution, and efficient absorption. It can be used for various dental applications, including pre-procedure anesthesia and post-operative pain control. The product aims to reduce patient anxiety and save dentists' chair time by eliminating the traditional needle administration process, which typically takes up to five minutes with conventional methods.

Rapid Dose Therapeutics Corp. (CSE: DOSE) has completed the second and final tranche of its equity private placement financing, raising $542,000 through the issuance of 3,188,233 common shares at $0.17 per share. Combined with the first tranche, the company has raised total gross proceeds of $851,000. The financing had a maximum capacity of $6,000,000. Proceeds will support research and development, capital expansion, debt repayment, and working capital needs. The issued shares are subject to a four-month hold period.

Rapid Dose Therapeutics Corp. (CSE: DOSE) has announced its intention to issue common shares to satisfy accrued interest on its secured convertible notes and Madison Debt. The company plans to issue 557,677 common shares at $0.17 per share to noteholders, covering $94,806.23 in accrued interest. Additionally, 39,996 common shares will be issued to Madison Partners for $6,799.37 in accrued interest on the Madison Debt. These shares are expected to be issued by October 15, 2024.

The secured convertible notes, part of a private placement financing, have a maturity date of November 30, 2025 and bear 12.0% annual interest. The company previously issued $3,134,445 in principal amount of notes and 15,672,225 warrants. All common shares issued as interest payment will be subject to a four-month and one-day hold period from the date of issue.

Rapid Dose Therapeutics Corp. (CSE: DOSE) has received an extension from the Canadian Securities Exchange for its proposed equity private placement financing. The company now has until October 29, 2024 to close the Financing, which aims to raise up to $6,000,000 in gross proceeds. The Financing involves issuing up to 35,294,117 common shares at $0.17 per share.

The Financing may close in multiple tranches, with the first tranche of $309,000 already closed on July 18, 2024. All securities issued will be subject to a four-month hold period from the applicable closing date, in compliance with securities laws.

Rapid Dose Therapeutics Corp. (CSE: DOSE) has successfully closed the first tranche of its previously announced equity private placement financing, raising $309,000 in gross proceeds. The company issued 1,817,647 common shares at a price of $0.17 per share. This is part of a larger financing effort that allows for a maximum of $6,000,000 in gross proceeds, consisting of up to 35,294,117 common shares.

The funds will be utilized for research and development, capital expansion, debt repayment, and general working capital requirements. The issued shares are subject to a four-month hold period from the closing date, in compliance with applicable securities laws.

Rapid Dose Therapeutics (RDT) announced its plan to issue common shares to pay accrued interest on its secured convertible notes and other debt obligations. The company aims to issue 520,968 shares at $0.18 each to satisfy $93,775.72 of interest on its notes. Additionally, 41,968 shares will be issued to Madison Partners for $7,554.28 of interest on a $250,000 debt. These shares will be issued no later than July 15, 2024, and will be subject to a holding period of four months and one day.

The notes, which mature on November 30, 2025, have an annual interest rate of 12%, calculated monthly and payable quarterly in shares. The financing included $3,134,445 in notes and 15,672,225 warrants.

Rapid Dose Therapeutics (RDT) has released its fiscal year 2024 financial results, highlighting a 42% increase in revenue to CAD$1,020,424. Despite this growth, the company reported a net comprehensive loss of CAD$4,287,578, a 12% increase from the previous year. Operating expenses rose by 3% to CAD$4,305,157, but non-cash charges decreased by 42% to CAD$782,559.

Key operational milestones include developing a Canadian retail base for nutraceutical products, entering a pharmaceutical collaboration to create QuickStrips for dental anesthesia, and initiating a pre-commercialization project for nicotine oral thin film strips. RDT also participated in an NFL-funded clinical trial for cannabinoid-based pain management. Regulatory delays continued to pose challenges, but post-year-end approvals for nutraceutical and cannabis products in Canada were achieved.

Rapid Dose Therapeutics (RDT) has received a $30,000 Mitacs Accelerate grant in May 2024, in addition to $55,000 awarded in 2023, to further develop Thin Polymer Films for Vaccine Delivery. The project, led by Prof. Alex Adronov of McMaster University, explores using RDT's QuickStrip™ Oral Thin Film (OTF) technology to deliver vaccines sublingually or buccally, eliminating the need for cold-chain storage and costly injections.

This funding will support a post-doctoral fellow for eight months to continue formulation development and proof-of-concept studies. Initial research demonstrated QuickStrip™'s effectiveness at encapsulating and releasing biomolecules and mRNA. The new phase aims to show mRNA transfection into living cells using this technology. The research also focuses on the thermal stability of active ingredients within the OTF, addressing logistical challenges in vaccine delivery.

CEO Mark Upsdell emphasizes the potential of this technology to make vaccine distribution more efficient in regions with inconsistent healthcare delivery. This project marks a continued collaboration between RDT and McMaster University, supported by Mitacs since 2019.