Rapid Dose Therapeutics Announces Launch of its Innovative Quickstrip™ Product to the Nevada Cannabis Market Through Brand Partnership with Flower One
January 15, 2019
BURLINGTON, Ontario – January 15, 2019 – Rapid Dose Therapeutics Inc. (“RDT”) (CSE: DOSE) is pleased to announce its entered into a definitive agreement (the “Agreement”) on January 10, 2019, with Flower One Holdings Inc. (“Flower One”) (CSE: FONE) (OTCQB: FLOOF) pursuant to which Flower One has been granted license to manufacture, distribute and sell RDT’s QuickStrip™, an innovative, proprietary delivery technology for the cannabis market in Nevada.
Flower One expects to produce and distribute QuickStrip™ for the medical and adult recreational cannabis market in Nevada by Spring 2019. RDT’s proprietary QuickStrip™ game-changing technology is a Quick, Convenient, Precise, Discreet™ oral fast-dissolving drug delivery system. The QuickStrip™ technology offers consumers a discreet and smoke-free alternative to enjoy cannabis.
“Brand partnerships are a key component to Flower One’s growth strategy in the Nevada cannabis market,” said Ken Villazor, Flower One’s President and CEO. “Our cultivation, processing and custom packaging facilities in Nevada total more than 480,000 square feet. The scale, technology and automation of our facilities will bring precision, quality and a consistent ability for Flower One to bring RDT’s innovative QuickStrip™ delivery technology to Nevada’s fast-growing cannabis market.”
Nevada is one of the most lucrative cannabis markets in the United States, hosting more than 55 million tourists annually from all over the globe to Las Vegas – an audience of almost 1.5 times greater than the population of Canada. The state reported $529.9 million in sales for all 2018 marijuana sales – that includes recreational, medicinal and cannabis-related products.
“Through our Managed Strip Service (MSS), RDT is focused and committed to providing consumers in the United States cannabis markets a Smoke-Free Choice.” said Mark Upsdell, CEO of RDT. “RDT’s Gold Vendor Status agreement with Flower One will enable them to sell to all the legal dispensaries in Nevada, under both their own private brand and as a white label program to the other licensed growers in Nevada. Our brand partnership with Flower One further strengthens and positions QuickStrip™ for rapid growth as an international brand and delivery device to cannabis consumers – while delivering health and improving outcomes.” Villazor adds, “With QuickStrip™’s discreet and measured dosing, we are well positioned to bring a unique and exciting product offering to Las Vegas and Nevada’s tourist-driven cannabis market, and we are thrilled to be adding it to Flower One’s portfolio of Brand Partners.”
About Flower One Holdings Inc.
Flower One Holdings is sharply focused on quickly becoming the leading cannabis cultivator, producer and innovator in the highly lucrative Nevada market. Flower One owns and operates a 25,000 square foot cultivation and production facility in North Las Vegas, with nine grow rooms, and owns the established NLV Organics consumer brand of cannabis products. The Company is also rapidly converting its 455,000 square foot greenhouse and production facility, which is the largest in the State, for cultivating and processing high-quality cannabis at scale. Combined, the flagship greenhouse facility and production facility (once fully operational) and the North Las Vegas facility provide Flower One with 480,000 square feet of capacity for cultivation and processing, production and high-volume packaging of dry flower, cannabis oils, concentrates and infused products. The Company is fully licensed for medical marijuana cultivation and production, as well as recreational marijuana cultivation and production in the state of Nevada.
Flower One’s common shares are traded on the Canadian Securities Exchange under the symbol "FONE" and in the United States on the OTCQB under the symbol "FLOOF." For more information visit: https://flowerone.com
A Game-Changing Delivery System
About Rapid Dose Therapeutics
Rapid Dose Therapeutics, RDT, is a Canadian biotechnology company that provides innovative, proprietary drug delivery technologies designed to improve outcomes and quality of lives. Rapid Dose Therapeutics 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. Within the cannabis sector, RDT provides a turn-key Managed Strip Service Program which enables RDT’s QuickStrip™ proprietary drug delivery technology to be licensed by select partners. RDT’s service based annuity contracts drive recurring revenue which enables rapid expansion into emerging markets – generating value for consumers and shareholders. Rapid Dose Therapeutics is committed to continually create innovative solutions aimed at multiple consumer segments and future market needs.For more information, visit: www.rapiddose.ca
For more information, visit: www.rapiddose.ca
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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” or the negative of these terms and similar expressions. Statements containing forward-looking information, including, without limitation, in respect of the delivery of products using the QuickStrip™ product delivery method, express, as at the date of this news release, the plans, estimates, forecasts, projections, expectations or beliefs of RDT as to future events or results and are believed to be reasonable based on information currently available to them. 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; 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 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 statements. Readers should not place undue reliance on forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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