Rapid Dose Announces Payment in Shares for Quarterly Interest on Secured Debt
Rhea-AI Summary
Rapid Dose Therapeutics (CSE: DOSE, OTC: RDTCF) has issued 1,338,091 common shares to holders of its amended and restated secured convertible notes, settling $140,500.43 of interest accrued to June 30, 2026. The deemed issue price was $0.105 per share, equal to the Canadian Securities Exchange closing price on June 30, 2026.
The Notes, originating from a 2023 private placement totaling $3,134,445 in principal and 15,672,225 warrants, bear interest at 18% per annum, compounded monthly and payable quarterly in shares. Note and warrant maturities on $3,084,445 of promissory notes and 15,422,225 warrants were extended to November 30, 2026. All interest-payment shares are subject to a four‑month‑and‑one‑day hold.
Positive
- $140,500.43 interest settled in shares, conserving cash
- Convertible notes principal of $3,084,445 maturity extended to November 30, 2026
- Company can prepay Notes with 10 days' advance notice
Negative
- Issuance of 1,338,091 new shares creates shareholder dilution
- Notes carry a high 18% per annum interest rate
- Expiry of 15,422,225 warrants extended to November 30, 2026, prolonging potential dilution
News Market Reaction – RDTCF
In the Jul 14 session, RDTCF declined 7.64%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Burlington, Ontario--(Newsfile Corp. - July 10, 2026) - Rapid Dose Therapeutics Corp. (CSE: DOSE) ("RDT" or the "Company") announced today that pursuant to the terms of its amended and restated secured convertible notes dated December 1, 2025 (the "Notes"), the Company issued common shares ("Common Shares") in satisfaction of the accrued interest payable on June 30, 2026.
The Notes were issued as a result of an extension to the promissory notes that were originally issued by the Company pursuant to its private placement financing (the "Financing") that closed in 2023. The Financing was an offering of units (the "Units") at a price of
As previously disclosed, the Company agreed with noteholders holding an aggregate of
Therefore, in accordance with the terms of the Notes, the Company issued a total of 1,338,091 Common Shares to the holders of the Notes at a deemed issue price of
All Common Shares issued as payment for accrued interest are subject to a hold period expiring four months and one day from the date of issue of the Common Shares.
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.
RDT Investor Contact:
Mark Upsdell, CEO
investorrelations@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 "intend", "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/304854