Rapid Dose Therapeutics Reports Q1 Financial Results and Exercise of Warrant for Net Proceeds of $689,000

CANNANNEW REPORT

BURLINGTON, Ontario–(BUSINESS WIRE)–Rapid Dose Therapeutics Corp. (“RDT” or the “Company”) (CSE: DOSE), today reported its Q1 financial results. “The Company is on a path of transformation and is well-positioned to drive innovation and our business plan forward as a result of activities that were achieved in this first quarter of 2022,” said Mark Upsdell, CEO, Rapid Dose Therapeutics. “We are well positioned to have a number of exciting COVID-19 vaccine announcements to come with the results from the ongoing McMaster University studies and the launch of our RDT-branded cannabis products on store shelves, among others. We are very pleased with our partners and our team members with their commitment to our success.” Q1 Financial Information: For The Period Ended May 31, 2021   May 31, 2020 Revenue     $131,198   NIL Operating expenses     $(851,278)   $(468,638) Net profit (loss)     $128,623   $(509,972) Net loss per share – basic     $0.001   $(0.01) Common shares – basic     100,666,805   77,067,435 Complete financial statements are available at http://www.sedar.com Q1 Operational Highlights: Expansion into the topicals market with an exclusive manufacturing and distribution agreement with MapleX (announced April 13, 2021), which has become the Company’s partner for Amazon and Walmart on-line sales. MapleX assists in all facets of the production, purchase and sales process for the Company’s MapleX branded castile soap body wash product line The purchase and amalgamation of Consolidated Craft Brands was announced on March 19, 2021 bringing CPG and pharmaceutical manufacturing experience and Health Canada licenses for R&D Subsequent Events: Appointment on July 20, 2021 of three advisory board members, Ron Brooks, Nick DiRenzo and Anne Lachance, who will support global expansion efforts Significant master distribution agreement announced on July 13, 2021 with Namaste Technologies subsidiary CannMart for RDT-branded cannabis products including…

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Source : Rapid Dose Therapeutics Reports Q1 Financial Results and Exercise of Warrant for Net Proceeds of 9,000

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