Rapid Dose Therapeutics Executes Letter Of Intent To Acquire Consolidated Craft Brands - Seite 2

What the acquisition brings to the Company                                                                                           

On completion of the Transaction, CCB will become a wholly owned subsidiary of RDT to accelerate and expand the Company’s existing business model of developing, manufacturing and distributing precisely dosed health and wellness products. CCB brings CPG and Pharma manufacturing expertise, a Health Canada Cannabis R&D License with developed proprietary formulations, branded products several patent-pending technologies for rapid onset beverage enhancements and a consortium of strategic alliances including First Nation majority shareholders. CCB has no debt and approximately $3,000,000.00 of cash and cash equivalents, including a repayable advance of $500,000 to RDT in conjunction with the Transaction.

Comments from the Company’s CEO

Mark Upsdell, President and CEO comments on the transaction: “I am delighted with this acquisition – it brings significant benefits to our Company:

1. The total cash of $3,000,000 coupled with the proceeds from the Private Placement of $899,842 completed in December 2020, provides the Company with the liquidity and financial resources to execute our commercialization phase to meet and exceed our production commitments.
2. The expertise and assets of CCB fit within our strategy to expand our product line offerings to customers in the cannabis sector.
3. This new subsidiary will develop, produce, and distribute products and provide services to markets in North America not currently served by RDT. The unique relationship of CCB with its consortium partners and strategic alliances can be maintained and enhanced through combining RDT’s products and licenced production facility with CCB shareholder’s channels of distribution.”