Rapid Dose Announces Closing of First Tranche of Equity Private Placement Financing
Summary
Each Warrant is exercisable to acquire one (1) Common Share at a price of $0.20 per Common Share for a term of two (2) years from the date of issuance of such Warrant.On this first tranche closing of the Financing, 6,470,588 Units were purchased; and accordingly, the Company issued 6,470,588 Common Shares and 6,470,588 Warrants.In accordance with the Companys agreement with Meadowbank Asset Management Inc. (the Agent) in respect of the Financing, the Agent is entitled to a cash commission equal to 6% of the aggregate gross proceeds raised pursuant to the Financing from investors introduced to the Company by the Agent. All securities issued on the Financing will be subject to a four month hold from the applicable date of closing.About Rapid Dose Therapeutics Corp. 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. 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.