Rapid Dose Therapeutics and Aphria to Deliver Innovative Quickstrip™ Technology to the German Cannabis Market
December 18, 2018
Burlington and Leamington Ontario – December 18, 2018 – Rapid Dose Therapeutics Inc. (“RDT” or the “Company”) (CSE: DOSE) and Aphria Inc. (“Aphria”) (TSX: APHA and NYSE: APHA) announced today that they have expanded the scope of their previously announced agreement (the “Agreement”), executed on November 1, 2018 (see the Company’s press release dated November 5, 2018), expanding the territory where Aphria has been granted exclusive preferred rights to license, manufacture, distribute and sell RDT’s QuickStrip™ innovative, proprietary delivery technology for the cannabis market to Germany.
RDT and Aphria’s amended agreement will support rapid global expansion of the QuickStrip™ brand and accelerate QuickStrip™ consumer adoption into key European cannabis markets.
RDT’s proprietary QuickStrip™ technology is a Quick, Convenient, Precise, Discreet™ oral fast-dissolving drug delivery system that offers a smoke-free choice to consumers. Aphria expects to produce and distribute CBD-only Quickstrips™ in Germany by Spring 2019.
Germany has a population of 82 million people — a population 2.5 times of Canada. BMO’s cannabis sector anaylsts Chen and Sklar forecast the German market could produce more than $5 billion in revenue for global cannabis producers.
Currently there are 30,000 cannabis consumers in Germany with an annual legal consumption of 7,200 kilograms. The BMO report set the $5 billion figure primarily based on an assumption that in seven years, 7.5 per cent of sleep, anxiety and pain prescriptions in Germany will be replaced with cannabis — opening up the cannabis market to approximately 26 per cent of the overall German population.1
“We are focused and committed to providing consumers in the European cannabis markets a smoke-free delivery choice.” said Mark Upsdell, CEO of RDT. “RDT will continue to build our strategic global partnerships. This agreement with Aphria strengthens the QuickStrip™ position as an international brand and delivery device to European consumers— while delivering health and improving outcomes.”
“Germany is one of the most sought-after cannabis markets today, and Aphria continues to take a comprehensive approach to ensure a leading presence in the country as the opportunity evolves,” said Jakob Ripshtein, President of Aphria. “Aphria is committed to bringing advanced products and innovations to cannabis markets around the world, and this agreement with RDT will enable us to bring QuickStrip™ technology to the German market and offer a unique nutraceutical product that delivers a consistent dosage.”
A Game-Changing Delivery System
About Rapid Dose Therapeutics
Rapid Dose Therapeutics, RDT, is a Canadian med-tech 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 is driven to expand globally into emerging markets, create value for both consumers and shareholders and continually create innovative solutions aimed at future market needs.
For more information, visit: www.rapiddose.ca
For inquiries please contact:
Assistant Corporate Secretary
Tel: 416 818-4035
1121 Walkers Line, Unit 3
Burlington ON Canada
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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