Rapid Dose Announces Proposed Issuance of Shares as Payment of Director Fees
Rapid Dose Therapeutics (CSE: DOSE) has announced a shares-for-debt transaction with its five non-management directors to settle outstanding director fees. Each director is owed $10,000 for three fiscal quarters (May 31, August 31, and November 30, 2024), totaling an aggregate debt of $150,000.
The company will issue common shares at a price equal to the closing market price on December 31, 2024, with expected issuance around January 15, 2025. The shares will be subject to a four-month hold period. This transaction aims to improve RDT's financial position by reducing existing liabilities. No new control person will be created through this transaction.
Rapid Dose Therapeutics (CSE: DOSE) ha annunciato una transazione di scambio azioni per debito con i suoi cinque direttori non operativi per saldare le spese arretrate. Ogni direttore deve ricevere $10.000 per tre trimestri fiscali (31 maggio, 31 agosto e 30 novembre 2024), per un debito totale di $150.000.
La società emetterà azioni ordinarie a un prezzo pari a quello di chiusura del mercato il 31 dicembre 2024, con un'emissione prevista intorno al 15 gennaio 2025. Le azioni saranno soggette a un periodo di blocco di quattro mesi. Questa transazione mira a migliorare la posizione finanziaria di RDT riducendo le passività esistenti. Nessuna nuova persona di controllo sarà creata attraverso questa transazione.
Rapid Dose Therapeutics (CSE: DOSE) ha anunciado una transacción de intercambio de acciones por deuda con sus cinco directores no ejecutivos para saldar honorarios pendientes. Cada director debe $10,000 por tres trimestres fiscales (31 de mayo, 31 de agosto y 30 de noviembre de 2024), totalizando una deuda acumulada de $150,000.
La empresa emitirá acciones comunes a un precio igual al precio de cierre del mercado el 31 de diciembre de 2024, con una emisión esperada alrededor del 15 de enero de 2025. Las acciones estarán sujetas a un período de bloqueo de cuatro meses. Esta transacción tiene como objetivo mejorar la posición financiera de RDT al reducir las pasivos existentes. No se creará ninguna nueva persona de control a través de esta transacción.
Rapid Dose Therapeutics (CSE: DOSE)는 미경영 이사 5명과의 부채 대 주식 거래를 발표하여 미지급 이사 수수료를 해결합니다. 각 이사에게는 2024년 5월 31일, 8월 31일, 11월 30일의 3개 회계 분기에 대해 각각 $10,000가 지급되어 총 부채가 $150,000에 달합니다.
회사는 2024년 12월 31일의 종가와 동일한 가격으로 보통주를 발행할 예정이며, 발행은 2025년 1월 15일경에 이루어질 것입니다. 이 주식은 4개월의 보유 기간을 갖게 됩니다. 이 거래는 기존 채무를 줄여 RDT의 재정적 위치를 개선하는 것을 목표로 합니다. 이 거래를 통해 새로운 통제 인물이 생성되지 않습니다.
Rapid Dose Therapeutics (CSE: DOSE) a annoncé une transaction d'échange d'actions pour dettes avec ses cinq administrateurs non exécutifs afin de régler des honoraires d'administrateur en attente. Chaque administrateur doit recevoir 10 000 $ pour trois trimestres fiscaux (31 mai, 31 août et 30 novembre 2024), pour un montant total de 150 000 $.
La société émettra des actions ordinaires à un prix égal au prix de clôture du marché au 31 décembre 2024, avec une émission prévue autour du 15 janvier 2025. Les actions seront soumises à une période de blocage de quatre mois. Cette transaction vise à améliorer la position financière de RDT en réduisant les passifs existants. Aucune nouvelle personne de contrôle ne sera créée par cette transaction.
Rapid Dose Therapeutics (CSE: DOSE) hat eine Aktien-für-Schulden-Transaktion mit seinen fünf nicht geschäftsführenden Direktoren angekündigt, um ausstehende Direktorenhonorare zu begleichen. Jeder Direktor hat Anspruch auf $10.000 für drei Quartale (31. Mai, 31. August und 30. November 2024), was eine Gesamtschuld von $150.000 ergibt.
Das Unternehmen wird Stammaktien zu einem Preis ausgeben, der dem Schlusskurs am 31. Dezember 2024 entspricht, wobei die Ausgabe um den 15. Januar 2025 erwartet wird. Die Aktien unterliegen einer Haltedauer von vier Monaten. Diese Transaktion zielt darauf ab, die finanzielle Lage von RDT zu verbessern, indem die bestehenden Verbindlichkeiten reduziert werden. Durch diese Transaktion wird keine neue Kontrollperson geschaffen.
- Reduction of $150,000 in existing liabilities without cash expenditure
- Improvement in company's balance sheet structure
- Share dilution for existing shareholders
- Related party transaction indicating potential cash flow constraints
Burlington, Ontario--(Newsfile Corp. - December 24, 2024) - Rapid Dose Therapeutics Corp. (CSE: DOSE) ("RDT" or the "Company") announces that it has agreed with its non-management directors (the "Directors") to issue common shares (the "Debt Shares") to such Directors in exchange for the cancellation of director fees owing. Each of the five Directors is owed
The Company is completing this shares for debt transaction to improve its financial position by reducing its existing liabilities. All Debt Shares issued will be subject to a four-month hold period from the date of issuance, as applicable. No new control person of the Company is expected to be created pursuant to this transaction.
The issuance of the Debt Shares will be a related party transaction within the meaning of Multilateral Instrument 61-101 ("MI 61-101"). The Company will be relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Section 5.5(b) (Company is listed on the Canadian Securities Exchange) and Section 5.7(1)(a) (fair market value of the transaction insofar as it involves related parties does not exceed
About Rapid Dose Therapeutics Corp.
Rapid Dose Therapeutics is a Canadian biotechnology company revolutionizing drug delivery through innovation. The Company's flagship product QuickStrip™ is a thin, orally dissolvable film, that can be infused with an infinite list of active ingredients, including nutraceuticals, pharmaceuticals and vaccines, that are delivered quickly into the bloodstream, resulting in rapid onset of the active ingredient. For more information about the Company, visit www.rapid-dose.com.
Contacts:
RDT Investor Contact:
Mark Upsdell, CEO
mupsdell@rapid-dose.com
416-477-1052
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, 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. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235072
FAQ
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