Rapid Dose Completes Issuance of Shares as Payment of Directors' Fees
Rapid Dose Therapeutics (CSE: DOSE) has completed a shares for debt transaction with its non-management directors. The company issued 681,815 Debt Shares at $0.22 per share to settle an aggregate debt of $150,000 in directors' fees.
The debt comprised of $10,000 owed to each of the five directors for the fiscal quarters ended May 31, August 31, and November 30, 2024. The share price was set at the closing market price on December 31, 2024. The issued shares are subject to a four-month hold period.
This transaction aims to improve the company's financial position by reducing existing liabilities. The issuance constitutes a related party transaction under MI 61-101, with the company utilizing exemptions from valuation and minority shareholder approval requirements.
Rapid Dose Therapeutics (CSE: DOSE) ha completato un'operazione di scambio azioni per debito con i suoi direttori non manageriali. L'azienda ha emesso 681.815 Azioni per Debito a $0,22 per azione per saldare un debito aggregato di $150.000 per spese dei direttori.
Il debito consisteva in $10.000 dovuti a ciascuno dei cinque direttori per i trimestri fiscali conclusi il 31 maggio, il 31 agosto e il 30 novembre 2024. Il prezzo delle azioni è stato fissato al prezzo di mercato di chiusura del 31 dicembre 2024. Le azioni emesse sono soggette a un periodo di blocco di quattro mesi.
Questa transazione ha lo scopo di migliorare la posizione finanziaria dell'azienda riducendo le passività esistenti. L'emissione costituisce una transazione con parti correlate ai sensi della MI 61-101, con l'azienda che utilizza le esenzioni dai requisiti di valutazione e di approvazione degli azionisti di minoranza.
Rapid Dose Therapeutics (CSE: DOSE) ha completado una transacción de acciones por deuda con sus directores no ejecutivos. La empresa emitió 681,815 Acciones por Deuda a $0.22 por acción para saldar una deuda total de $150,000 en honorarios de directores.
La deuda consistía en $10,000 adeudados a cada uno de los cinco directores por los trimestres fiscales que terminaron el 31 de mayo, el 31 de agosto y el 30 de noviembre de 2024. El precio de las acciones se fijó al precio de mercado de cierre del 31 de diciembre de 2024. Las acciones emitidas están sujetas a un período de retención de cuatro meses.
Esta transacción busca mejorar la posición financiera de la compañía al reducir las pasivos existentes. La emisión constituye una transacción con partes relacionadas según la MI 61-101, con la compañía utilizando exenciones de los requisitos de valoración y de aprobación de accionistas minoritarios.
Rapid Dose Therapeutics (CSE: DOSE)는 비경영 이사들과의 채무 대 주식 거래를 완료했습니다. 회사는 총 681,815채무 주식을 주당 $0.22에 발행하여 이사 수임료로 $150,000의 채무를 청산했습니다.
채무는 2024년 5월 31일, 8월 31일, 11월 30일에 종료된 회계 분기에 각 5명의 이사가 받을 $10,000로 구성되었습니다. 주가는 2024년 12월 31일의 마감 시장 가격으로 설정되었습니다. 발행된 주식은 4개월의 보유 기간에 따릅니다.
이 거래는 기존 부채를 줄여 회사의 재무 상태를 개선하는 것을 목표로 하고 있습니다. 이 발행은 MI 61-101에 따른 관련 당사자 거래에 해당하며, 회사는 평가 및 소액 주주 승인 요건의 면제를 이용하고 있습니다.
Rapid Dose Therapeutics (CSE: DOSE) a réalisé une opération d'échange d'actions contre des dettes avec ses directeurs non exécutifs. La société a émis 681 815 Actions pour Dettes au prix de 0,22 $ par action pour régler une dette totale de 150 000 $ au titre des honoraires des directeurs.
La dette se composait de 10 000 $ dus à chacun des cinq directeurs pour les trimestres fiscaux se terminant le 31 mai, le 31 août et le 30 novembre 2024. Le prix de l'action a été fixé au prix de clôture du marché du 31 décembre 2024. Les actions émises sont soumises à une période de blocage de quatre mois.
Cette transaction vise à améliorer la position financière de l'entreprise en réduisant les passifs existants. L'émission constitue une transaction entre parties liées en vertu de la MI 61-101, l'entreprise ayant recours à des exemptions concernant les exigences de valorisation et d'approbation des actionnaires minoritaires.
Rapid Dose Therapeutics (CSE: DOSE) hat eine Aktien-vor-Schulden-Transaktion mit seinen nicht geschäftsführenden Direktoren abgeschlossen. Das Unternehmen hat 681.815 Schuldenaktien zu einem Preis von $0,22 pro Aktie ausgegeben, um einen Gesamtbetrag von $150.000 an Direktorenhonoraren zu begleichen.
Die Schulden setzten sich aus $10.000 zusammen, die jeder der fünf Direktoren für die am 31. Mai, 31. August und 30. November 2024 endenden Quartale schuldet. Der Aktienkurs wurde zum Schlusskurs am 31. Dezember 2024 festgelegt. Die ausgegebenen Aktien unterliegen einer viermonatigen Haltedauer.
Diese Transaktion zielt darauf ab, die finanzielle Lage des Unternehmens zu verbessern, indem bestehende Verbindlichkeiten reduziert werden. Die Ausgabe stellt eine Transaktion mit nahestehenden Personen nach MI 61-101 dar, wobei das Unternehmen Ausnahmen von den Anforderungen an die Bewertung und die Genehmigung von Minderheitsaktionären in Anspruch nimmt.
- Reduced company liabilities by $150,000 without cash expenditure
- Directors' acceptance of shares instead of cash indicates confidence in company
- Share issuance creates dilution for existing shareholders
- Company unable to pay directors' fees in cash, indicating potential liquidity issues
Burlington, Ontario--(Newsfile Corp. - January 16, 2025) - Rapid Dose Therapeutics Corp. (CSE: DOSE) ("RDT" or the "Company") is pleased to announce that it has completed its previously announced shares for debt transaction to issue common shares (the "Debt Shares") to its non-management directors (the "Directors") in exchange for the cancellation of directors' fees owing. Each of the five Directors was owed
The Company is completing this shares for debt transaction to improve its financial position by reducing its existing liabilities. The Debt Shares issued are subject to a four-month hold period from the date of issuance, as applicable. No new control person of the Company was created pursuant to this transaction.
The issuance of the Debt Shares constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 ("MI 61-101"). The Company is 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
The Company did not file a material change report more than 21 days before the closing of this shares for debt transaction as the Company wished to close the transaction as soon as practicable which was reasonable in the Company's view.
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
investorrelations@rapid-dose.com
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/237425
FAQ
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