BURLINGTON, Ontario, April 13, 2021 (GLOBE NEWSWIRE) -- Rapid Dose Therapeutics Corp. (“RDT” or the “Company”) (CSE: DOSE), is a Canadian Life Science company focused on innovative drug and active ingredient delivery solutions. The flagship product ‘QuickStrip™’ is a thin, orally dissolvable film, infused with an active ingredient (nutraceuticals, cannabis or pharmaceuticals) that is delivered quickly into the bloodstream bypassing first-pass metabolism resulting in rapid onset of the active ingredient.
The Company is announcing today that it has entered into an exclusive manufacturing and distribution agreement with MapleX Naturals Inc. (“MapleX”) for its personal care product line of topical creams and lotions which are infused with natural ingredients such as Hemp and Canadian maple syrup, for sale by the Company to retailers across North America. MapleX was a founding shareholder in Consolidated Craft Brands (“CCB”) which was recently acquired by and amalgamated into a wholly-owned subsidiary of RDT.
MapleX has significant experience “infusing Hemp” extracts (rich in Omega 3,6, and 9), into high end personal care products to provide a “humectant” which repairs the skin, locks in moisture, regulates oil production, reduces inflammation, and visibly smooths the skin. MapleX products are currently distributed in specialty retail locations across Canada.
Dave Thompson, CEO of MapleX, commented, “We are excited to enter into this agreement with RDT. As a result, we look forward to providing customers in Canada and later in the United States with our MapleX product line. This agreement with RDT further allows us to introduce a range of beauty and cosmetic products to consumers. We are confident this will be a successful partnership and we look forward to achieving our growth objectives.”
Mark Upsdell, CEO of RDT commented, “The agreement with MapleX is key to our product line expansion as we continue to grow our health and wellness portfolio of products to augment the opportunities from our ‘QuickStrip™ technology. The MapleX personal care line will offer an expanding range of Hemp infused topical creams, lotions and balms for private label clients looking to establish a retail brand in the non-regulated Hemp market through traditional retailers. Through the amalgamation with CCB, we have accelerated our entry into the Consumer Packaged Goods (CPG) segment of the market which provides RDT with multiple revenue streams and expanded product offerings. The health and wellness space is a logical progression in RDT’s journey to provide innovative transdermal and sublingual delivery technologies for therapeutic, cosmetic and enhanced recreational customer experiences. We have already shipped our first topical products and look forward to seeing them in retailers across Canada in the coming weeks.”
About RDT
Rapid Dose Therapeutics Corp. is a publicly-traded Canadian life sciences company providing innovative, proprietary drug delivery technologies designed to improve outcomes and quality of lives. RDT offers Quick, Convenient, Precise and Discreet™ choices to consumers. RDT is focused and committed to clinical research and product development for the healthcare manufacturing industry — including nutraceutical, pharmaceutical and cannabis industries. RDT is committed to continually create innovative solutions for humans, animals, and plants.
For more information, visit: www.rapiddose.ca
For inquiries please contact:
| Mark Upsdell | Pat McCarthy | |
| CEO | Managing Director Capital Markets | |
| mupsdell@rapid-dose.com | pmccarthy@leedejonesgable.com | |
| Ofc (416) 477-1052 | Ofc (416) 365-8012 |