ACME Resources Corp. Signs Definitive Agreement to Acquire Rapid Dose Therapeutics

April 09, 2018 4:21 PM EDT | Source: Rapid Dose Therapeutics Corp.

Toronto, Ontario--(Newsfile Corp. - April 9, 2018) - ACME Resources Corp. ("ACME" or the "Company") is pleased to announce it has entered into a definitive agreement to acquire 100% of the issued share capital of Rapid Dose Therapeutics Inc. ("RDT") in a Reverse Take-Over transaction (the "Transaction") payable by the issuance of up to 57,130,000 common shares of ACME, which shares will include a private placement by RDT, prior to closing, for gross proceeds of up to $2,000,000. The Company announced the signing of the letter of intent related to the Transaction in its press release of February 6, 2018.

RDT is a private Canadian bio-technology company which provides proprietary enhanced drug delivery technologies designed to improve patient outcomes. RDT owns a proprietary oral fast-dissolving drug delivery system, QuickStrip™, which is capable of rapidly releasing into the blood stream a list of pharmaceuticals, emulsified oils and over-the-counter medicines without being degraded or modified by first pass metabolism in the liver. RDT also provides product innovation, production and consultation to the pharmaceutical and healthcare manufacturing industry.

Closing of the Definitive Agreement will be subject to approval by regulatory authorities and compliance with any required governmental and securities regulations. Closing will also be conditional on approval for listing of the ACME shares on the Canadian Securities Exchange. ACME intends to change its name to RAPID DOSE THERAPEUTICS CORP., or another name as appropriate. There is no guarantee that the Definitive Agreement will close.

The parties have agreed to pay a finder's fee on closing to an arm's length party equal to 7% of the total number of shares issued and outstanding as at closing.

Upon closing of the Definitive Agreement, the Company will have up to 66,763,923 issued and outstanding common shares of which approximately 8% will comprise the existing ACME shareholders, and approximately 85% will comprise the former RDT shareholders.

For further information contact:
Paul Ankcorn - Chief Executive Officer
Telephone: (416) 866-2200

Cautionary Note Regarding Forward-looking Statements
Certain information in this press release may contain forward-looking statements. Such statements are based on the current expectations of the management of the Company. Trading in the securities of the Company should be considered highly speculative. Except as required by applicable securities laws, forward looking statements speak only as of the date on which they are made and, unless required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

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