Rapid Dose Therapeutics Provides Bi-Weekly MCTO Status Update

Rapid Dose Therapeutics Provides Bi-Weekly MCTO Status Update
CANNANNEW REPORT

BURLINGTON, Ontario–(BUSINESS WIRE)–Rapid Dose Therapeutics Corp. (“RDT”), (CSE: DOSE), a Canadian biotechnology company leveraging an innovative, proprietary oral delivery platform, is providing a bi-weekly default status update in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”). The Company announced via press release dated June 16, 2022 (the “Default Announcement”) that it had submitted an application to the Ontario Securities Commission (the “OSC”) for a management cease trade order (the “MCTO”) pursuant to NP 12-203. The application for the MCTO was made in connection with the delay in filing 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 (such filings, collectively, the “Annual Filings”), which were required to be filed on or before June 28, 2022. The MCTO was issued by the OSC on June 29, 2022. It prevents the Company’s Chief Executive Officer and Chief Financial Officer from trading in the Company’s securities but does not affect the ability of other shareholders, including the public, to trade in securities of the Company. The MCTO will remain in effect until two full business days following the receipt by the OSC of all filings the Corporation is required to make under Ontario securities law, including the Annual Filings. The Company currently anticipates the completion of the audit and the filing of the Annual Filings by August 26, 2022. The Company confirms that since the date of the Default Announcement: (i) other than as described above, there has been no material change to the information set out in the Default Announcement that has not been generally disclosed; (ii) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out…

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