Rapid Dose Announces Proposed Debt Settlement
Rapid Dose Therapeutics (RDTCF) has announced a debt settlement agreement with certain creditors. The company plans to issue up to 2.5 million common shares in exchange for canceling approximately $500,000 in outstanding accounts payable. The Settlement Shares will be issued at $0.20 per share.
The transaction aims to improve RDT's financial position by reducing existing liabilities. Settlement Shares issued to Canadian residents will have a four-month hold period. The agreement requires Canadian Securities Exchange approval and will not create a new control person of the company.
Rapid Dose Therapeutics (RDTCF) ha annunciato un accordo di risoluzione del debito con alcuni creditori. La società prevede di emettere fino a 2,5 milioni di azioni ordinarie in cambio dell'annullamento di circa 500.000 dollari di debiti verso fornitori. Le azioni di risoluzione saranno emesse al prezzo di 0,20 dollari per azione.
L'operazione ha l'obiettivo di migliorare la posizione finanziaria di RDT riducendo le passività esistenti. Le azioni di risoluzione emesse ai residenti canadesi saranno soggette a un periodo di blocco di quattro mesi. L'accordo necessita dell'approvazione della Canadian Securities Exchange e non creerà una nuova figura di controllo all'interno della società.
Rapid Dose Therapeutics (RDTCF) ha anunciado un acuerdo para la liquidación de deudas con ciertos acreedores. La compañía planea emitir hasta 2,5 millones de acciones comunes a cambio de cancelar aproximadamente 500,000 dólares en cuentas por pagar pendientes. Las acciones de liquidación se emitirán a 0,20 dólares por acción.
La transacción tiene como objetivo mejorar la posición financiera de RDT al reducir las obligaciones existentes. Las acciones de liquidación emitidas a residentes canadienses tendrán un período de retención de cuatro meses. El acuerdo requiere la aprobación de la Canadian Securities Exchange y no generará un nuevo controlador de la compañía.
Rapid Dose Therapeutics (RDTCF)는 일부 채권자와 부채 정산 계약을 발표했습니다. 회사는 미지급 계정 약 50만 달러를 상환하기 위해 최대 250만 주의 보통주를 발행할 계획입니다. 정산 주식은 주당 0.20달러에 발행됩니다.
이번 거래는 기존 부채를 줄여 RDT의 재무 상태를 개선하는 것을 목표로 합니다. 캐나다 거주자에게 발행되는 정산 주식은 4개월의 보유 기간이 적용됩니다. 이 계약은 캐나다 증권 거래소의 승인을 필요로 하며 회사의 새로운 지배주주를 만들지 않습니다.
Rapid Dose Therapeutics (RDTCF) a annoncé un accord de règlement de dette avec certains créanciers. La société prévoit d’émettre jusqu’à 2,5 millions d’actions ordinaires en échange de l’annulation d’environ 500 000 dollars de comptes fournisseurs impayés. Les actions de règlement seront émises au prix de 0,20 dollar par action.
Cette opération vise à améliorer la situation financière de RDT en réduisant les passifs existants. Les actions de règlement émises aux résidents canadiens seront soumises à une période de blocage de quatre mois. L’accord nécessite l’approbation de la Canadian Securities Exchange et ne créera pas de nouveau détenteur de contrôle de la société.
Rapid Dose Therapeutics (RDTCF) hat eine Schuldenregulierungsvereinbarung mit bestimmten Gläubigern bekannt gegeben. Das Unternehmen plant, bis zu 2,5 Millionen Stammaktien auszugeben, um etwa 500.000 US-Dollar an ausstehenden Verbindlichkeiten auszugleichen. Die Abwicklungsaktien werden zu 0,20 US-Dollar pro Aktie ausgegeben.
Die Transaktion zielt darauf ab, die finanzielle Lage von RDT durch die Reduzierung bestehender Verbindlichkeiten zu verbessern. Für kanadische Einwohner ausgegebene Abwicklungsaktien unterliegen einer viermonatigen Sperrfrist. Die Vereinbarung bedarf der Genehmigung der Canadian Securities Exchange und führt nicht zur Entstehung eines neuen Kontrollinhabers des Unternehmens.
- Reduction of $500,000 in outstanding accounts payable, improving the balance sheet
- No creation of a new control person, maintaining current ownership structure
- Dilution of existing shareholders through issuance of 2.5 million new shares
- Share issuance at $0.20 represents a debt-to-equity conversion that may impact stock price
Burlington, Ontario--(Newsfile Corp. - May 9, 2025) - Rapid Dose Therapeutics Corp. (CSE: DOSE) ("RDT" or the "Company") announces that it has agreed with certain of its creditors (the "Creditors") to issue up to an aggregate of 2,500,000 common shares (the "Settlement Shares") to such Creditors in exchange for the cancellation of outstanding accounts payable (the "Shares for Debt Transaction") in the aggregate amount of up to
The Company is completing the Shares for Debt Transaction to improve its financial position by reducing its existing liabilities. All Settlement Shares issued to Canadian residents will be subject to a four-month hold period from the date of issuance. The Shares for Debt Transaction remains subject to CSE acceptance. No new control person of the Company will be created pursuant to the Shares for Debt Transaction.
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
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.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States. The securities described in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251606
FAQ
What is the value of RDTCF's debt settlement agreement announced on May 9, 2025?
How many new shares will Rapid Dose Therapeutics (RDTCF) issue for the debt settlement?
What is the price per share for RDTCF's debt settlement shares?
Will the RDTCF debt settlement create a new control person?
What is the hold period for RDTCF's Settlement Shares for Canadian residents?
