Rapid Dose Announces Revocation of Cease Trade Order

BURLINGTON, Ontario--(BUSINESS WIRE)--Rapid Dose Therapeutics Corp. (“RDT” or the “Company”) (CSE: DOSE) is pleased to announce that on May 1, 2023, staff of the Ontario Securities Commission (the “OSC”) granted a full revocation of the failure-to-file cease trade order (“FFCTO”) that was previously issued against the Company on August 26, 2022.

The Company had been subject to the FFCTO for failure to meet the deadlines to file the Company’s audited annual financial statements for the year ended February 28, 2022, the related management’s discussion and analysis and CEO and CFO certifications (collectively, the “Annual Filings”) as well as the Company’s unaudited interim financial statements, related management’s discussion and analysis and CEO and CFO certifications for the interim periods ended May 31, 2022, August 31, 2022 and November 30, 2022 (collectively, the “Interim Filings”, and together with the Annual Filings, the “Required Documents”).

The Company completed the filing of the Required Documents on January 27, 2023 and January 30, 2023 and copies are available under the Company’s SEDAR profile at www.sedar.com. Based on comments from staff of the OSC, the Company also revised and re-filed on April 14, 2023 its management’s discussion and analysis for the year ended February 28, 2022 and the interim period ended November 30, 2022 and copies are available under the Company’s SEDAR profile at www.sedar.com.

The Company has filed an undertaking with the staff of the OSC that it will hold an annual meeting of shareholders within three months of the revocation of the FFCTO.

The Company confirms that its business has not changed and that the Company remains active.

With the revocation of the FFCTO, trading in the common shares of the Company through the facilities of the Canadian Securities Exchange is expected to resume in the coming days. The Company is following up with the Canadian Securities Exchange in this regard and resumption of trading will be confirmed in a follow up press release.

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.

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.

RDT Investor Contact:
Mark Upsdell, CEO
mupsdell@rapid-dose.com
416-477-1052

Media Contact:
Dara Willis
dara@dwcomm.ca
416-836-9272