ACME Resources and Rapid Dose Therapeutics Proceed to Shareholder Meetings to Approve Their Proposed Merger and Provide Update on Scientific Research
August 13, 2018
Toronto and Burlington, Canada, August 13, 2018 – ACME Resources Corp. (“ACME” or the “Company”) and Rapid Dose Therapeutics Inc. (“RDT”) are pleased to announce that ACME has mailed the Notice and Management Information Circular for its shareholders meeting scheduled for August 30, 2018 and RDT will be sending its shareholder meeting materials to its shareholders next week. Among other things, their shareholders will be asked to approve their proposed reverse take-over transaction pursuant to which ACME will acquire RDT’s business by acquiring 100% of the issued share capital of RDT and RDT shareholders will receive approximately 57,641,200 Common Shares of ACME representing a substantial majority of the outstanding shares of ACME. In addition, ACME shareholders will be asked to approve the change of ACME’s name to “Rapid Dose Therapeutics Corp.” and any and all other aspects necessary or advisable for completion of the transaction.
On completion of the transaction, management and the board of directors of the Company will transition to better reflect RDT’s management and board as follows:
|Mark Upsdell||President, Chief Executive Officer and a director|
|Jason Lewis||Senior Vice-President Business Development and a director|
|Lino Fera||Chief Financial Officer|
RDT is a private Canadian biotechnology corporation providing disruptive proprietary drug delivery technologies designed to improve patient outcomes. RDT’s business is to manufacture, distribute and license its orally administrable composition of a film forming agent that delivers a micronized therapeutic to allow the ready absorption of pharmaceutical and other products by patients.
Scientific Research Update
RDT is continuing to further the scientific research agreement with McMaster University, Hamilton, Ontario, Canada. The scientific research is being conducted by the Adronov Research Group of the Department of Chemistry and Chemical Biology (the “Adronov Group”). The Principal Investigator is Dr. Alex Adronov, the 2018 winner of the Chemical Institute of Canada’s Macromolecular Science and Engineering Award.
Dr. Adronov won the Macromolecular Science and Engineering Award in 2018 for his pioneering work in the synthesis of complex polymers with controlled architectures and well-defined reactivity as well as for his investigations of the interactions between conjugated polymers and single-walled carbon nanotubes. Over the course of his career, Dr. Adronov has established himself as a national leader in the multi-step preparation of novel polymers and has published more than 100 scientific articles in peer-reviewed journals. The 2018 award follows Dr. Adronov’s award for Excellence in Materials Chemistry, which he received from the Chemical Institute of Canada in 2013.
The Adronov Group, introduced to the project in 2017, has been studying the basis of RDT’s QuickStrip™ technology as a water-soluble polymer strip designed for transmucosal drug delivery suitable for delivering
a wide range of active ingredients, while maintaining favourable dissolution parameters and consistent drug-loading characteristics.
RDT CEO, Mark Upsdell, noted, “The work for which the Adronov Group is known is ideal for the rapid advancement of RDT’s products into multiple market segments of our target verticals. The Adronov Group has expertise in polymers utilizing nano-scale dispersions, as well as the chemical stability of emulsions and nanocomposites which figure greatly into our goal of further innovating stable dispersions within a polymer film.”
The end result of the continuing research by the Adronov Group will allow RDT to critically evaluate many more pharmaceutical and nutraceutical products for QuickStrip™ oral sublingual delivery, which could dramatically expand RDT’s global market presence.
More Information about ACME:
For more information about ACME, visit ACME’s profile at www.sedar.com
Or contact Jorge Estepa, Corporate Secretary, 20 Adelaide Street East, Suite 200, Toronto, Ontario M5C 2T6 Tel: (416) 818-4035
More Information about RDT:
For more information about RDT, visit: www.rapid-dose.com
Or contact Rapid Dose Therapeutics Inc at: email@example.com.
1121 Walkers Line, Suite 3, Burlington, ON CANADA L7N 2G4 Tel.: (416) 477-1052
Information in this news release may contain forward-looking information. Statements containing forward- looking information express, as at the date of this news release, the plans, estimates, forecasts, projections, expectations or beliefs of ACME and RDT as to future events or results and are believed to be reasonable based on information currently available to them. There can be no assurance that forward- looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
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