Rapid Dose Therapeutics Corp. announced a private placement of 41,176,470 units at a price of CAD 0.17 per unit for the gross proceeds of CAD 7,000,000 on January 19, 2024. Each unit consists of one common share and one share purchase warrant.

Each warrant will be exercisable to acquire one common share at a price of CAD 0.20 per common share for a term of two years from the date of issuance of such warrant. The financing may close in one or more tranches. All securities issued on the financing will be subject to a four month hold from the applicable date of closing.

As a part of the transaction, the company may pay a cash commission equal to 6% of the aggregate gross proceeds as placement agent fee. The company shall also issue such number of non-transferable agent warrants as is equal to 6% of the number of Units issued to investors in the financing that were introduced to the company by the agent.