Rapid Dose Therapeutics Signs an Exclusive Preferred Global Vendor Agreement with Aphria
Toronto, Burlington, Ontario--(Newsfile Corp. - November 5, 2018) - ACME Resources Corp. ("ACME") and Rapid Dose Therapeutics Inc. ("RDT") are pleased to announce that RDT and Aphria Inc. ("Aphria") (TSX: APHA) (NYSE: APHA) have signed a definitive agreement granting Aphria exclusive preferred global vendor status for the production and sales of RDT's QuickStrip™ technology for both medicinal and adult-use cannabis markets around the world.
RDT's game-changing, proprietary QuickStrip™ technology is a Quick, Convenient, Precise, Discreet™ oral fast-dissolving drug delivery system that offers a smoke-free choice to consumers.
This definitive agreement will enable Aphria to license, manufacture, distribute and sell RDT's QuickStrip™ innovative, proprietary delivery technology in Canada. Aphria intends to begin production of QuickStrip™ oral thin strips at its production facilities in Leamington, Ontario in 2019. The agreement will also provide Aphria with rights add additional territories to expand into other markets from time to time using RDT's QuickStrip™ innovative, proprietary delivery technology.
Aphria is a significant shareholder of RDT, having acquired 7,200,000 shares in a non-brokered private placement completed in August 2018 at a price of $0.75 per share for total gross proceeds of $5,400,000, representing approximately a 9.7% interest in the company. Aphria's strategic investment in RDT highlights their commitment and focus to building a comprehensive portfolio of adult-use brands that offer alternative and smoke-free choices for patients and consumers to integrate cannabis into their lives.
"RDT's strategic partnership by Aphria will strengthen and support RDT's QuickStrip™ delivery method and to rapidly expand brand recognition and market reach," said Mark Upsdell, Chief Executive Officer of RDT. "The smokeless product market represents a significant opportunity - and our contractual relationship with Aphria enhances RDT's efforts to establish QuickStrip™ as a recognizable consumer brand and build global scale."
A Game-Changing Delivery System.
About Rapid Dose Therapeutics
Rapid Dose Therapeutics, RDT, is a Canadian bio-technology company that provides innovative, proprietary drug delivery technologies designed to improve patient outcomes and quality of lives. Rapid Dose Therapeutics offers Quick, Convenient, Precise and Discreet™ choices to consumers and patients. RDT is focused and committed to clinical research and product development for the healthcare manufacturing industry - including nutraceutical, pharmaceutical and cannabis industries. Within the cannabis sector, RDT provides a turn-key Managed Strip Service Program which enables RDT's QuickStrip™ proprietary drug delivery technology to be licensed by select partners. RDT is driven to expand globally into emerging markets, create value for both consumers and shareholders and continually create innovative solutions aimed at future market needs.
For more information, visit: www.rapid-dose.com.
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About ACME - Proposed Business Combination
ACME and RDT have proposed a business combination which, when completed, will constitute a reverse take-over of ACME by the shareholders of RDT and the acquisition of RDT by ACME. The previously announced proposed amalgamation involving ACME, its wholly-owned subsidiary and RDT (the "Amalgamation") and all of the matters relating to the Amalgamation have been approved by more than 99% of the votes cast by ACME shareholders present in person or represented by proxy at an ACME shareholders meeting held on August 30, 2018 and by 100% of the votes cast by RDT shareholders present in person or represented by proxy at a RDT shareholders meeting held on August 27, 2018. For details of the proposed Amalgamation and other aspects of the proposed reverse take-over transaction, please refer to ACME's news release filed on ACME's profile on SEDAR at www.sedar.com on July 12, 2018 and the management information circular for the ACME shareholders meeting filed on ACME's profile on SEDAR at www.sedar.com on August 9, 2018.
More Information about ACME:
For more information about ACME, visit ACME's profile at www.sedar.com or contact Jorge Estepa, Corporate Secretary, 20 Adelaide Street East, Suite 200, Toronto, Ontario M5C 2T6 Tel: (416) 818-4035
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" or the negative of these terms and similar expressions. Statements containing forward-looking information, including, without limitation, in respect of the delivery of products using the QuickStrip™ product delivery method, express, as at the date of this news release, the plans, estimates, forecasts, projections, expectations or beliefs of ACME and RDT as to future events or results and are believed to be reasonable based on information currently available to them. 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; future legislative and regulatory developments involving medical marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the medical marijuana 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 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 statements. Readers should not place undue reliance on forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.