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Rapid Dose Therapeutics Corp. Announces Payment in Shares for Quarterly Interest on Secured Debt and Update on Shares for Debt Settlement with Creditors
Burlington, Ontario--(Newsfile Corp. - April 1, 2025) - Rapid Dose Therapeutics Corp. (CSE: DOSE) ("RDT" or the "Company") announced today that as contemplated in the secured convertible notes (the "Notes") previously issued on its private placement financing (the "Financing"), and consistent with prior quarters, the Company intends to issue common shares ("Common Shares") in satisfaction of the accrued interest payable on March 31, 2025 under the terms of the Notes. The Company ...
About this update from Rapid Dose Therapeutics Corp
[{"type":"text","content":"Burlington, Ontario--(Newsfile Corp. - April 1, 2025) - Rapid Dose Therapeutics Corp. (CSE: DOSE) ("RDT" or the "Company") announced today that as contemplated in the secured convertible notes (the "Notes") previously issued on its private placement financing (the "Financing"), and consistent with prior quarters, the Company intends to issue common shares ("Common Shares") in satisfaction of the accrued interest payable on March 31, 2025 under the terms of the Notes. The Company expects to issue the Common Shares no later than April 11, 2025.","length":598,"tagName":"p"},{"type":"text","content":"The Financing was an offering of units (the "Units") at a price of $1.00 per Unit. Each Unit consisted of $1.00 principal amount of Notes and five common share purchase warrants of the Company (the "Warrants"). The Company closed all four tranches of the Financing in 2023, issuing an aggregate of $3,134,445 principal amount of Notes and 15,672,225 Warrants.","length":379,"tagName":"p"},{"type":"text","content":"The Notes have a maturity date of November 30, 2025 and bear interest from their date of issue at 12.0% per annum, calculated monthly, accrued, added to principal and payable quarterly in arrears in Common Shares at a price per share equal to the closing market price of the Common Shares on the Canadian Securities Exchange (the "CSE") on the last trading day of each calendar quarter.","length":396,"tagName":"p"},{"type":"text","content":"Therefore, in accordance with the terms of the Notes, the Company intends to issue a total of 463,716 Common Shares to the holders of the Notes at a deemed issue price of $0.20 per Common Share, being the closing market price of the Common Shares on the CSE on March 31, 2025, in satisfaction of the aggregate of $92,745.22 of accrued interest owing on the Notes.","length":363,"tagName":"p"},{"type":"text","content":"All Common Shares issued as payment for accrued interest will be subject to a hold period expiring four months and one day from the date of issue of the Common Shares.","length":167,"tagName":"p"},{"type":"text","content":"RDT also announced that further to its press releases dated December 9, 2024 and January 23, 2025 regarding a proposed debt settlement (the "Shares for Debt Transaction") with c...